GBP/USD seesaws around 1.2140s trendless as traders eye US CPI – by christianborjon GBPUSD Currencies Majors
, failed to propel the risk-perceived Sterling. At the time of writing, the GBP/USD is trading at 1.2145, slightly below its opening price.Wall Street opened with solid gains after US Federal Reserve Fed Chair Jerome Powell’s speech on Tuesday failed to provide any forward guidance.
Investors shrugged off Powell’s words as US equities closed higher Tuesday. In the meantime, the GBP/USD failed to gain traction even though the greenback continued to weaken.economic calendar keeps traders waiting for the release of the US Consumer Price Index report Thursday. Street’s estimates of headline inflation are 0% MoM; on an annual basis, a dip to 6.5% is expected. Excluding volatile items, the so-called Core CPI is foreseen at 0.3% MoM, a tick higher than the previous month, while yearly, it is estimated to come at 5.7%.
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