Latest News: GBP/USD
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EUR/USD is holding onto the recent recovery above 1.1900, up for first weekly gain in four. US dollar ignores firmer Treasury yields on fears of the PCE inflation gauge confirming the Fed’s hawkish tilt. Risk appetite remains positive, as Biden’s stimulus joins EU-UK trade optimism. Fedspeak eyed as well.
GBP/USD bounces towards 1.3950, as the US dollar eases across the board amid risk-on mood. US infrastructure stimulus deal lifts the sentiment, as the pound recovers from the dovish BOE-led blow. Mixed updates on Brexit, Delta Plus covid variant keeps bears hopeful.
Gold stays on the front foot near $1780 in early Europe. US Treasury yields retreat, DXY struggles ahead of the Fed’s preferred inflation gauge of inflation. Market sentiment stays upbeat on US stimulus, trade headlines. Fedspeak also joins the watchers’ list for fresh impulse.
The US Bureau of Economic Analysis will release the PCE inflation report on Friday, June 25. Markets expect the Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, to rise to 3.4% on a yearly basis in May from 3.1% in April.