GBP/USD succumbs as market players buy US Dollars on weekly, quarter, and monthly-end flows GBPUSD Majors Inflation
economic data
The Fed Boston President Susan Collins welcomed the news but reiterated that the Fed has work to do. The New York Fed President, John Williams, will cross newswires later. After the US inflation data release, the GBP/USD hovered around 1.2400 before collapsing beneath the central pivot point at 1.2357 and extending its losses towards the 1.2340 area. However, an upward correction was capped at the former, and the GBP/USD resumed its downward trajectory, eyeing a test of the S1 pivot at 1.2320.
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