Pound Sterling trades cautiously as focus shifts to UK-US inflation
The Pound Sterling (GBP) underperforms a majority of its peers at the start of the week. The British currency faces pressure as investors turn cautious ahead of the United Kingdom (UK) Consumer Price Index (CPI) data for September, which will be released on Wednesday.
Investors will closely monitor the UK inflation data to get cues about whether the Bank of England (BoE) will cut interest rates again in the remaining year. The inflation report is expected to show that the core CPI – which excludes the volatile components of food, energy, alcohol, and tobacco – rose at a faster pace of 3.7% on an annualized basis against the prior release of 3.6%. Read more…
GBP/USD Weekly Forecast: Pound Sterling awaits direction from key US inflation data
The Pound Sterling (GBP) found fresh buyers once again near the 1.3250 area when compared with the US Dollar (USD), pushing GBP/USD higher toward the 1.3500 threshold.
GBP/USD buyers returned with a bang in the past week after an initial struggle, as the USD lost its upside momentum and incurred heavy losses against its major currency rivals. Read more…
