GBP/USD rallied early on Tuesday after data showed British wages rose faster than expected in the last three months of 2022. The data raised the prospects of a more hawkish Bank of England as the inflation battle consumes sentiment in markets. In that regard, the US Consumer Price Index was the next key event for the pair with the data underpinning the outlook for further rate hikes from the Federal Reserve. Read More…
The GBP/USD dropped sharply in the North American session following the release of inflation data in the United States, which, although increased, initially sent the GBP/USD spiking towards its daily high at 1.2269 before reversing its course to the 1.2130 area. However, a late bounce sparked a recovery in the GBP/USD, trading at 1.2166, above its opening price. Read More…
The GBP/USD pair spikes to a peak of 1.2270 before retracing dramatically to the upper 1.21s following the much-anticipated release of US CPI data on Tuesday. Read More…
