GBP/USD fell below 1.3450 ahead of US retail sales and PPI releases
The GBP/USD pair is trading in negative territory around 1.3425 during Asian trading hours on Wednesday, under pressure from renewed demand for the US Dollar (USD). Traders brace for US retail sales and producer price data later on Wednesday.
The US Consumer Price Index (CPI) rose 2.7% year over year in December, matching the increase recorded in November, the US Bureau of Labor Statistics (BLS) said on Tuesday. This number is in line with the market consensus. Meanwhile, the core CPI, excluding volatile food and energy costs, rose 2.6% year-on-year in December, versus November’s 2.7% rise. This reading was lower than expected at 2.7%. Read more…
GBP/USD settled near 1.3450 as a decline in the US CPI revived Fed cut bets.
The British Pound (GBP) turned negative on Tuesday, but remains near its opening price after the latest US inflation report opened the door for the Federal Reserve to continue its easing policy in 2026. At the time of writing, GBP/USD is trading at 1.3450, down 0.03%.
The US CPI in December rose 0.3% from the previous month, but in the 12 months through December, the CPI rose 2.7%, unchanged from the November reading. The core CPI for the same period was unchanged at 0.2% on a monthly basis, and on an annual basis it was below estimates of 2.7% at 2.6%. Read more…
