GBP/USD declines below 1.3450 ahead of US Retail Sales, PPI releases
The GBP/USD pair trades in negative territory around 1.3425 during the Asian trading hours on Wednesday, pressured by renewed US Dollar (USD) demand. Traders brace for the US Retail Sales and Producer Price Index (PPI) data later on Wednesday.
The US Consumer Price Index (CPI) rose by 2.7% YoY in December, matching November’s increase, according to the US Bureau of Labor Statistics (BLS) reported on Tuesday. This figure aligned with the market consensus. Meanwhile, the core CPI, excluding fluctuating food and energy costs, increased by 2.6% YoY in December, versus November’s 2.7% rise. This reading came in softer than the 2.7% expected. Read more…
GBP/USD flat near 1.3450 as softer US CPI revives Fed cut bets
The British Pound (GBP) turns negative on Tuesday, yet it remains near its opening price after the latest US inflation report opens the door for the Federal Reserve to continue easing policy in 2026. At the time of writing, GBP/USD trades at 1.3450, down 0.03%.
The US Consumer Price Index (CPI) in December increased 0.3% MoM, but in the twelve months through December, the CPI rose 2.7% unchanged from November’s print. Core CPI for the same period was unchanged at 0.2% MoM, and on an annual basis was below estimates of 2.7%, at 2.6%. Read more…
Read the full article here