GBP/USD fades recovery near 1.1100, US inflation, BOE’s bond-buying eyed – by anilpanchal7 GBPUSD Fed BOE Inflation RiskAppetite
inflation data. Also weighing on the Cable pair could be recently hawkish comments from the Federal Reserve Governor Michelle Bowman, as well as fears surrounding the British economy and the Bank of England’s bond-buying program.
On the other hand, Bank of England policymaker Catherine Mann stated that tackling inflation will hurt the UK more than others. On the same line could be the UK PM Liz Truss’ determination to keep the widely criticized mini budget despite knowing that it will post a £60 billion funding hole. "I am still inclined to believe that a significant
That said, UK Gross Domestic Product dropped to -0.3% MoM in August versus 0.0% expected and 0.2% prior whereas the Industrial Production and Manufacturing Production also slumped into the negative territory during the stated month.
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