GBP/USD booked a third straight weekly decline, having renewed 28-month lows.
The US June inflation scorcher widens the Fed-BOE policy divergence.
UK inflation and politics will be closely followed. Time for a temporary pullback?
Having tested levels below 1.1900 a week ago, GBP/USD lost further ground and hit a new 28-month low of 1.1760 amid a combination of factors that worked against the British pound.
The US inflation stood out in the week and added extra legs to the ongoing US dollar rally. Looking ahead, UK employment and inflation will hold the key as the Fed enters the ‘blackout period’.
The US June inflation scorcher widens the Fed-BOE policy divergence.
UK inflation and politics will be closely followed. Time for a temporary pullback?
Having tested levels below 1.1900 a week ago, GBP/USD lost further ground and hit a new 28-month low of 1.1760 amid a combination of factors that worked against the British pound.
The US inflation stood out in the week and added extra legs to the ongoing US dollar rally. Looking ahead, UK employment and inflation will hold the key as the Fed enters the ‘blackout period’.