GBP/USD slips as hot US PPI data erodes aggressive Fed cut bets

The GBP/USD pair retreats during the North American session, down 0.21% after a hot inflation report in the United States (US) prompted traders to pare rate cut bets by the Federal Reserve (Fed) at the September meeting. At the time of writing, the pair trades at 1.3545 after hitting a daily peak of 1.3594. Read More…

Pound Sterling trades firmly on upbeat UK GDP data, US PPI awaited

The Pound Sterling (GBP) attracts bids against its major peers on Thursday on upbeat United Kingdom (UK) Gross Domestic Product (GDP) and factory data. The Office for National Statistics (ONS) reported that the economy grew by 0.3% in the second quarter of the year, stronger than expectations of 0.1%. In the first quarter of the year, GDP growth was 0.7%. Read More…

GBP/USD holds steady above 1.3550 as investors await UK GDP, US PPI releases

The GBP/USD pair trades on a flat note around 1.3575 during the Asian trading hours on Thursday. Traders prefer to wait on the sidelines ahead of the key data from both the United Kingdom (UK)  and the United States (US). The preliminary reading of UK Gross Domestic Product (GDP) for the second quarter (Q2) will be published later on Thursday, followed by US Producer Price Index (PPI) data for July. Read More…