The GBP/USD gained some ground as the dollar steadied after rallying sharply in response to Tuesday’s publication of above-forecast US inflation data. Today, we had some more inflation data from both sides of the Atlantic, with UK CPI falling back ever so slightly below double digits while core PPI in the US printed above expectations. While initially the GBP/USD rose, it then came off its highs once price hit resistance and other dollar pairs tested key levels. Are we going to see the cable go back down again? Given that the UK economy is struggling with high inflation and an energy crunch, it is difficult to see an ... (full story)