Pound Sterling Price News and Forecast: GBP/USD slips as UK CPI eases and FOMC minutes loom

FXStreet Team FXStreet

GBP/USD slips as UK CPI eases and FOMC minutes loom

UK inflation data released Wednesday confirmed the disinflationary trend the Bank of England (BoE) has been watching for, with headline CPI dropping to 3% and the Retail Price Index falling to 3.8% from 4.2%. The data follows Tuesday's weak labor report that showed unemployment climbing to 5.2% and payrolls falling by 30K, reinforcing expectations for further BoE rate cuts from the current 3.75%. On the US side, the Fed held rates at 3.50% to 3.75% at its January meeting in a 10-2 vote, with two dissenters pushing for a cut. Today's FOMC minutes should offer more detail on the committee's tolerance for easing, while a batch of US housing and durable goods data rounds out a busy session. Read More...

GBP/USD Price Forecast: Tests Symmetrical Triangle breakdown near 1.3580

The GBP/USD pair trades flat at around 1.3570 during the European trading session on Wednesday. The pair flattens while the Pound Sterling (GBP) trades higher after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for January. Read More...

Pound Sterling turns volatile against US Dollar as UK inflation cools down expectedly

The Pound Sterling (GBP) trades highly volatile around 1.3560 against the US Dollar (USD) during the European trading session on Wednesday, following the release of the United Kingdom (UK) Consumer Price Index (CPI) data for January. The Office for National Statistics (ONS) has reported that inflationary pressures have cooled down expectedly. Read More....

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