Pound Sterling Price News and Forecast: GBP/USD edges higher to near 1.2700 ahead of UK CPI inflation data

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GBP/USD edges higher to near 1.2700 ahead of UK CPI inflation data

GBP/USD continues to gain ground for the third successive session, trading around 1.2690 during the Asian hours on Wednesday. The Pound Sterling (GBP) strengthens as markets price in less than a 20% chance of another rate cut from the Bank of England (BoE) this year, following the BoE Monetary Policy Report Hearings on Tuesday, where the central bank described interest rates as "moderately restrictive". Read More...

GBP/USD churns below 1.27 ahead of UK CPI inflation print

GBP/USD churned chart paper just south of 1.2700 on Tuesday as Cable traders brace for a decently-sized UK data dump due on Wednesday, headlined by UK Consumer Price Index (CPI) inflation figures for October. US economic data takes a reprieve on Wednesday, leaving Cable markets the floorspace to focus on data that might tilt the Bank of England (BoE) toward or away from further rate cuts this year. Read More...

Pound Sterling slumps after MPC hearings, fresh escalation in Russia-Ukraine war

The Pound Sterling (GBP) fails to hold onto Monday’s recovery against the US Dollar (USD) and falls back in North American trading hours on Tuesday. The GBP/USD pair retreats as the US Dollar bounces back after fresh escalation in geopolitical tensions, which improved demand for safe-haven assets. The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, rebounds from 106.10 and aimd to recapture the annual high of 107.00. Read More...

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