GBPUSD retreats towards 1.1750 ahead of key UK data, Autumn Statement – by anilpanchal7 GBPUSD Macroeconomics RiskAppetite Fed BOE
vents. That said, the Cable pair posted the biggest weekly gains since March 2020 in the last amid broadweakness and optimism surrounding the UK government’s ability to takeout Britain from the recession, despite the short-term pain.
It should be noted that UK Prime Minister Rishi Sunak’s academics and the credence among Conservatives join the latest efforts to smoothen Brexit talks to also favor the GBPUSD bulls. Not only the downbeat US data but talks of easing virus controls in China also boosted the risk appetite on Friday and exerted downside pressure on the US dollar. Earlier in the week, the softer US inflation data backed the talks of the Fed’s pivot and drowned the US currency. Recently, Fed Governor Christopher Waller said Fed can begin to consider moving at a slower pace.
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