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GBP/USD consolidates in a range around 1.2700 mark, eyes UK CPI for fresh impetus
The GBP/USD pair struggles to gain any meaningful traction on Wednesday and oscillates in a narrow trading band, around the 1.2700 round-figure mark during the Asian session. Spot prices, meanwhile, hold above a one-month low touched last Friday as traders keenly await the release of the latest UK consumer inflation figures before positioning for the next leg of a directional move. The headline UK CPI is expected to tick higher and come in at 0.4% in May versus the previous print of 0.3%, while the yearly rate is seen decelerating to 3.5% from 3.9% in April. The data will play a key role in influencing the British ... (full story)
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- Posted: Jun 19, 2024 12:02am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,812
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