GBP/USD extends downside below 1.3500 ahead of US CPI release
The GBP/USD pair extends the decline to around 1.3475 during the Asian trading hours on Wednesday. The Pound Sterling (GBP) weakens against the US Dollar (USD) due to a weaker UK employment report. Later on Wednesday, the attention will shift to the US May Consumer Price Index (CPI) inflation.
The UK ILO Unemployment Rate ticked higher to 4.6% in the three months to April versus 4.5% prior, the UK Office for National Statistics showed on Tuesday. This figure came in line with the expectations. Meanwhile, the Claimant Count Change came in at 33.1K in May versus -21.2K prior (revised from 5.2K), below the consensus of 9.5K. Read more…
GBP/USD softens after UK data miss, US CPI still in the barrel
GBP/USD took a step lower on Tuesday, falling under the weight of a wide miss in UK wages and unemployment figures. US Consumer Price Index (CPI) inflation data is in the barrel for Wednesday, and Cable traders are set to grapple with mid-tier UK trade data later in the week.
Delegates from the Trump administration are finalizing trade talks with Chinese officials in London. Negotiations are nearing completion, with loose ends expected to be resolved after Tuesday’s market close. Major concessions from either side are still unannounced or unachieved, leading to investor apprehension as trade tensions persist at the policy level. Read more…
