GBP/USD Price Analysis: Peaks at five-week high, fails to challenge 1.2700
The Pound Sterling advanced some 0.30% and hit a five-week high of 1.2670 following the release of the US Consumer Price Index (CPI). The data was mostly aligned with estimates, showing a continuation of the disinflation process, which weighed on the Greenback. The GBP/USD trades at 1.2641 at the time of writing. Read More…
Pound Sterling soars to 1.2670 as soft US inflation boosts Fed rate-cut prospects
The Pound Sterling (GBP) posts a fresh monthly high at 1.2670 against the US Dollar (USD) in Wednesday’s American session. The GBP/USD pair soars as the US Dollar has been hit hard due to an expected decline in the United States Consumer Price Index (CPI) and stagnant Retail Sales data for April. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, drops sharply to near 104.50. Read More…
GBP/USD consolidates its gains above 1.2580, all eyes on US CPI data
The GBP/USD pair consolidates its gains around 1.2590 during the early Asian session on Wednesday. The major pair holds above the key 100-day Exponential Moving Average (EMA) but remains capped under the 1.2600 hurdle. The US Consumer Price Index and Retail Sales report for April will be in the spotlight. Also, the Fed’s Kashkari and Bowman are due to speak. Read More…
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