Pound Sterling Price News and Forecast: GBP/USD holds in bullish grounds with BoE sentiment dominating
GBP/USD holds in bullish grounds with BoE sentiment dominating
GBP/USD is up 0.13% at the time of writing and has traveled between a low of 1.2392 and 1.2475 while data today confirmed that Britain has the highest inflation in Western Europe, solidifying the consensus that the Bank of England’s meeting in May will result in a rate hike.
Data on Wednesday showed consumer prices rose by an annual 10.1%, the Office for National Statistics said, down from 10.4% in February but higher than the 9.8% forecast by economists polled by Reuters. Read more…
GBP/USD sticks to stronger UK CPI-led gains, modest USD strength caps the upside
The GBP/USD pair reverses an early European session dip to the 1.2400 mark and turns positive for the second successive day on Wednesday. Spot prices, however, retreat a few pips from a fresh weekly high touched in the last hour and currently trade near the mid-1.2400s, still up around 0.20% for the day.
The British Pound strengthens across the board following the release of stronger UK consumer inflation figures and turns out to be a key factor pushing the GBP/USD pair higher. Read more…
GBP/USD rises 25+ pips as bulls approach 1.2450 on strong UK inflation
GBP/USD prints a 27 pip worth of jump as the UK’s headlines inflation data offered a positive surprise in March. That said, the Cable pair renews its intraday high near 1.2440 during early Wednesday morning in London.
UK inflation as per the Consumer Price Index (CPI) rise to 10.1% YoY in March versus 9.8% expected and 10.4% prior while the Core CPI reprints 6.2% YoY figure compared to 6.0% market forecasts. Read more…