GBP/USD turns sharply lower as post-US CPI inflation rout sends the Pound Sterling down below 1.22
The GBP/USD has plunged 1.2% from Thursday's peaks, dropping into 1.2180 after the US Consumer Price Index (CPI) inflation reading broadly beat market expectations, and investors are concerned that the Federal Reserve (Fed) will get pushed further into a high-for-longer rate hike cycle. Read More...
Pound Sterling tumbles on hotter US headline inflation data
The Pound Sterling (GBP) faces intense selling pressure as the stable United States core Consumer Price Index (CPI) for September month has weakened the risk appetite of the market participants. The outlook for the GBP/USD pair dampened as the Office for National Statistics (ONS) reported that United Kingdom factory data in August contracted for the second time in a row. UK firms operated on lower capacity as they aimed to achieve efficiency by cutting higher inventory backlogs and their respective labor forces due to declining demand. Read More...
GBP/USD maintains its position above 1.2300 major level ahead of US CPI
GBP/USD continues the winning streak that began last week, trading higher around 1.2310 during the Asian session on Thursday. Despite robust economic data from the United States (US), the pair is finding upward support on divergence in perspectives revealed in the Federal Open Market Committee (FOMC) minutes. Read More...
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