Pound Sterling Price News and Forecast: GBP/USD more upside expected above 1.3570

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GBP/USD Price Forecast: More upside expected above 1.3570

The British Pound (GBP) is up 0.2% to near 1.3557 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair trades higher as the US Dollar faces selling pressure, with traders scaling back Federal Reserve (Fed) interest rate hike bets due to weak United States (US) economic data for August.

Meanwhile, investors await the Federal Open Market Committee (FOMC) minutes of the July policy meeting, which will be published at 18:00 GMT. Read more...

British Pound edges up within range following hotter UK inflation data

The British Pound (GBP) ticked up against the US Dollar (USD) on Monday, following the release of UK inflation data. The GBP/USD pair has returned to the mid-range of the 1.3500s on Wednesday, trading a few pips above 1.3550 at the time of writing, although it remains trapped within previous days’ range, below the 1.3570 resistance area.

Data released by National Statistics on Wednesday revealed that UK inflation accelerated in line with market expectations in July. UK's Consumer Price Index (CPI) grew at a 0.3% rate on the month and 2.9% year-over-year (Y-o-Y) from 0.1% and 2.6% respectively last month. The Core CPI grew at a 2.6% Y-o-Y rate, unchanged from the previous month, against the market consensus for a downtick to 2.5%. Read more...

British Pound shows limited reaction to expected increase in UK headline inflation

The British Pound (GBP) reflects a slight market action against the Japanese Yen (JPY) near its day’s low at around 215.70 after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for July.

The Office for National Statistics (ONS) has reported that the headline inflation accelerated to 2.9% Year-on-Year (YoY), as expected, from 2.5% in June. The core CPI – which excludes volatile components of food, energy, alcohol and tobacco – grew at a steady pace of 2.6% YoY, while it was expected to slow down to 2.5%. Read more...

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GBP/USD advances to three-month peak near 1.3600

GBP/USD extends its daily rally and trades at its highest level since mid-May at around 1.3600. The US Treasury Department decision to double the sice of liquidity support buyback operations for longer-dated nominal coupon securitiez weighs heavily on the US Dollar and helps the pair push higher. Earlier in the day, the data from the UK showed that annual Consumer Price Index (CPI) inflation picked up to 2.9% in July, meeting estimates, while core CPI rose by 2.6% YoY in July versus 2.5% expected.

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