GBP/USD refreshes weekly high, around 1.2470 amid softer US CPI-inspired USD sell-off – by hareshmenghani GBPUSD Inflation Fed Recession Currencies
The softer US CPI lifts bets for an eventual dovish Fed shift and weighs on the buck.pair reverses an intraday dip to sub-1.2400 levels on Wednesday and turns positive for the second straight day in reaction to softer-than-expected US consumer inflation figures. The momentum pushes spot prices to a fresh weekly top, around the 1.2465-1.2470 region during the early North American session.rose by 0.1% in March as compared to the 0.4% recorded in the previous month and the 0.3% anticipated.
Investors also seem reluctant and might prefer to wait on the sidelines ahead of the release of the FOMC meeting minutes, due later during the US session. The
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