GBP/USD treads water at multi-day top near 1.2500 ahead of US PMI, employment statistics – by anilpanchal7 GBPUSD RiskAversion PMI BOE Fed
mood ahead of the important statistics but corrective bounces in the US Dollar and yields also allow the Cable pair buyers to take a breather of late.
That said, the US Dollar Index dropped to the lowest levels in five weeks on Tuesday, before renewing the multi-day bottom and then bouncing off the 101.43 level to around 101.54 by the press time. It’s worth noting that the downbeat US data and the greenback’s less acceptance among the key global trade players weigh on the US Dollar of late.
It should be noted that Russia’s latest likes for the Chinese Tuan and the China-Brazil pact to ignore the US Dollar as an intermediate currency seem to drag the US Dollar. Policymaker Silvana Tenreyro said, “I expect that the high current level of bank rate will require an earlier and faster reversal, to avoid a significant inflation undershoot.”of Cleveland leader Loretta Mester recently cited the need to hike rates above 5% and hold them there for a while.
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