GBP/USD Price Forecast: Retreats below 1.3200 on strong US data
The British Pound erased its earlier gains and dropped below 1.3200 against the Greenback after the US Census Bureau reported stronger-than-expected US Retail Sales. Even though the data didn’t change expectations for a 50-basis points (bps) Fed rate cut, the GBP/USD posted losses of over 0.20% and exchanged hands at 1.3186. Read More…
Pound Sterling trades with caution ahead of UK inflation
The Pound Sterling (GBP) faces selling pressure against its major peers on Tuesday. The British currency drops as investors turn cautious ahead of the United Kingdom (UK) Consumer Price Index (CPI) data for August, which will be published on Wednesday. The inflation data will significantly influence market speculation for the Bank of England (BoE) interest rate path for the last quarter of the year as it is expected to leave interest rates unchanged on Thursday. Read More…
GBP/USD consolidates around 1.3200, looks to US Retail Sales for short-term impetus
The GBP/USD pair oscillates in a narrow trading band just above the 1.3200 mark during the Asian session on Tuesday and consolidates the previous day’s strong move up to over a one-week high. Investors opt to move to the sidelines ahead of the key central bank event risks – the highly-anticipated two-day FOMC meeting starting this Tuesday and the Bank of England (BoE) policy update on Thursday. Read More…
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