
GBP/USD Forecast: Is the Pound Ignoring Inflation Data?
During today’s session, a consistent neutral bias has continued to shape GBP/USD price action in the short term, with the pair showing barely a 0.1% variation.
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During today’s session, a consistent neutral bias has continued to shape GBP/USD price action in the short term, with the pair showing barely a 0.1% variation.
UK inflation has cooled, sinking the pound, lifting stocks and raising hopes the Bank of England is almost done raising interest rates.
The FTSE 100 is rising in wake of the latest inflation data.
Inflation remained higher than hoped in May, weighing on UK stocks and cementing fears that more rate hikes are needed.
The GBP/JPY has been supported by a double dose of bullish factors this week.
Investors fear more aggressive hikes will be on the way after CPI topped 10%
Yields, equities were lower whilst gold and the yen were higher during a risk-off session as inflationary forces concerned investors once again.
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