Pound Sterling Price News and Forecast: GBP/USD fluctuates in volatile session on UK CPI data

GBP/USD recovered some ground following the release of inflation data in the United Kingdom (UK), which initially underpinned the GBP/USD. Nevertheless, it reversed its gains, as investors doubted the Bank of England (BoE) could tame inflation without damaging the economy. The GBP/USD trades at 1.2773, above its opening price after hitting a daily low of 1.2689. Read More…

The Pound Sterling (GBP) has defended the 1.2700 support comfortably as investors are confident that the United Kingdom central bank could announce a fat interest rate hike. The GBP/USD pair has stabilized after a V-shape recovery as surprisingly higher inflationary pressures in Britain have propelled the need for bulky hikes in the interest rates by the Bank of England (BoE). However, it will eventually hurt the economic prospects of the economy. Read More…