GBP/USD advanced sharply and touched a new 15-month high at 1.3000 during the North American session as data revealed before Wall Street opened showed the Consumer Price Index (CPI) in the US hitting its lowest level in two years, as inflation abates following 500 basis points of tightening. Hence, the GBP/USD is exchanging hands at 1.2989, gains 0.45%, after hitting a low of 1.2902. Read More…
The Pound Sterling (GBP) has recovered its entire losses swiftly United States inflation data has decelerated further. The GBP/USD pair has picked immense strength as weak US inflation numbers might support a skip in the policy-tightening spell consecutively. Meanwhile, chances of a bulky interest rate hike from the Bank of England (BoE) have escalated, knowing the fact, that higher disposable income available to households will result in higher purchasing power, and eventually the overall demand will elevate further. Read More…
There is scope for GBP/USD to revisit the key 1.3000 mark in the next few weeks, suggest, Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-surges-to-15-month-peak-at-13000-amid-easing-us-inflation-202307121749