GBP/USD edges lower though almost flat post-US inflation data

The Pound Sterling remains on the back foot in the mid-North American session on Thursday, as inflation in the United States (US) picked up more than estimated in December, which might deter the US Federal Reserve (Fed) from easing monetary policy as investors estimate. The GBP/USD trades at 1.2734, printing losses of 0.02%. Read More…

The Pound Sterling (GBP) faces an intense sell-off as the market sentiment has been impacted significantly. Higher-than-projected United States Consumer Price Index (CPI) data has escalated volatility in global markets. The US Bureau of Labor Statistics (BLS) has reported that monthly headline and core inflation were up by 0.3%. The annual headline inflation rose at a significant pace of 3.4% vs. expectations of 3.2% and the prior reading of 3.1%. The core inflation grew by 3.9%, slightly slower than the prior reading of 4.0% but remained higher than expectations of 3.8%. Read More…

The GBP/USD pair holds positive ground around 1.2765 during the early European session on Thursday. The uptick of the pair is supported by the weaker US Dollar (USD) and improved risk-on sentiment. Traders await the December US Consumer Price Index (CPI) for fresh impetus. The Core CPI is projected to grow 3.8% YoY, while headline inflation is estimated to rise 3.2% YoY versus 3.1% prior. Read More…