Home Analysis GBP/USD is trying to reclaim 1.3150 level as U.S. yields eases

GBP/USD is trying to reclaim 1.3150 level as U.S. yields eases

183
0
GBPUSD is trying to reclaim 1.3150 level as U.S. yields eases - forexspacex.com

The dollar is down on Thursday morning after U.S. yields attracted some selling pressure amid the stubbornly high inflation. The inflation data report including the prices paid by producers (PPI) rate jumped to 11.4% in March, the highest in the last 11 years. consequently, the British pound and other majors gained traction on Wednesday and Thursday. The GBP/USD gained 0.90% on Wednesday to trade above its 100-hour moving average at the 1.30285 mark. Investors are expecting a 50-bps rate hike by the Federal Reserve to counter the high inflation. As a result of this, the British pound is expected to extend its gain and recover some lost ground.

Previous articleAUD/USD may breach 0.7400 level
Next articleBritish pound gains ahead of more rate hike expectations from BOE

LEAVE A REPLY

Please enter your comment!
Please enter your name here