GBP/USD slides as Fed Governor Cook faces fraud allegations, UK inflation surges
GBP/USD tumbles during the North American session with traders shrugging off high inflation in the UK as the White House pressures Fed Governor Lisa Cook to step aside from the board. The pair trades at 1.3469, down 0.15%. Read More…
Pound Sterling gains as UK inflation accelerates stronger than expected
The Pound Sterling (GBP) attracts significant bids against its major peers on Wednesday as the United Kingdom (UK) Consumer Price Index (CPI) data for July has come in hotter than projected. The Office for National Statistics (ONS) reported that the headline inflation rose at an annual pace of 3.8%, faster than expectations of 3.7% and 3.6% in June, a key factor that will allow the Bank of England (BoE) to maintain its “gradual and careful” monetary expansion guidance going forward. Read More…
GBP/USD Price Forecast: Slides below mid-1.3400s, over one-week low ahead of UK CPI
The GBP/USD pair drifts lower for the third consecutive day on Wednesday – also marking the fourth day of a negative move in the previous five – and drops to an over one-week low during the Asian session. Spot prices currently trade around the 1.3475 region, down 0.10% for the day amid some follow-through US Dollar (USD) buying and ahead of the UK consumer inflation figures. Read More…
