GBP/USD maintains its position above 1.2300 major level ahead of US CPI

GBP/USD continues the winning streak that began last week, trading higher around 1.2310 during the Asian session on Thursday. Despite robust economic

GBP/USD moves upward on divergence in viewpoints disclosed in the FOMC minutes. US Dollar remains defensive despite robust wholesale inflation data. US CPI suggests a decrease in the annual rate for September. data from the United States , the pair is finding upward support on divergence in perspectives revealed in the Federal Open Market Committee minutes. The FOMC minutes emphasized the significance of relying on data.

These divergent views within the Federal Reserve add layers of complexity to the current economic landscape. The US Dollar Index is facing challenges, struggling to maintain ground at around 105.70 at the time of writing. This struggle is attributed to the subdued performance of US Treasury yields, with the 10-year Treasury bond yield standing at 4.57% by the latest update. Market participants will likely keep an eye out for Gross Domestic Product and manufacturing data from the United Kingdom .

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

British Pound Ahead of US CPI: GBP/USD, EUR/GBP, GBP/AUD Price SetupsAfter weeks of losses, GBP is attempting to rebound as Fed rate hike expectations scale back ahead of the key US inflation and UK GDP data. What is the trend in GBP/USD, EUR/GBP and GBP/AUD?
Read more »

GBP/USD: Extra gains likely above 1.2270 – UOBIn the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD is seen gathering further upside traction once it c
Read more »

Pound Sterling Price News and Forecast: GBP/USD ticks higher, albeit lacks follow-throughThe GBP/USD pair builds on the previous day's goodish rebound of over 80 pips from the 1.2165-1.2160 area and extends its steady ascent through the As
Read more »

US Dollar Weakness Allows EUR/USD and GBP/USD to Rally FurtherThe US dollar is drifting lower for a 5th day in a row despite haven appeal prompted by the Middle East crisis. The technical outlook for the greenback may be starting to change.
Read more »

Pound Sterling Price News and Forecast: GBP/USD could test 1.2300 next [Video]GBPUSD has been stagnant around the 1.2235 barrier for two days, hindered by the 20-day simple moving average (SMA) and the resistance line from July.
Read more »

GBP/USD holds steady around mid-1.2200s on subdued USD demand, lacks bullish convictionThe GBP/USD pair builds on the previous day's goodish rebound of over 80 pips from the 1.2165-1.2160 area and extends its steady ascent through the As
Read more »