Pound Sterling Price News and Forecast: GBP/USD slumps on strong US producer inflation, Fed rate cut odds trim

The Pound Sterling tumbled against the US Dollar on Thursday after the US Department of Labor announced a rebound on inflation on the producer side that could dent the Federal Reserve’s easing policy. Therefore, the GBP/USD edges lower, trading at 1.2748, down 0.38%. Read More…

The Pound Sterling (GBP) falls sharply against the US Dollar in Thursday’s early New York session as the United States Producer Price Index (PPI) data for February came in hotter than expected. The GBP/USD pair drops as investors’ risk appetite eases on expectations that stubborn US PPI will reinforce fears that the Federal Reserve (Fed) could delay plans to reduce interest rates. Currently, markets broadly expect that the Fed will make this move in June. Read More…

The GBP/USD pair continues with its struggle to gain any meaningful traction and extends its consolidative price move around the 1.2800 mark for the second successive day on Thursday. The setup, meanwhile, seems tilted in favour of bullish traders and warrants some caution before positioning for an extension of the recent pullback from the vicinity of the 1.2900 round figure, or the highest level since July 2023 touched last week. Read More…