Pound Sterling faces pressure as UK core, services inflation cools down
The Pound Sterling (GBP) faces slight selling pressure against its major currency peers after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for March. The British currency drops to near 1.3518 against the US Dollar (USD), but still holds little gains.
The Office for National Statistics (ONS) has reported that the headline inflation accelerated to 3.3% Year-on-Year (YoY), as expected, from 3% in February. The core CPI – which excludes volatile components of food, energy, alcohol, and tobacco – grew at a moderate pace of 3.1% YoY, while it was expected to have risen steadily by 3.2%. Read more…
Pound Sterling treads water above 1.3500 ahead UK CPI data
GBP/USD remains flat after registering modest losses in the previous trading day, hovering around 1.3510 during the Asian hours on Wednesday. The pair moves little as the US Dollar (USD) maintains its position after Bloomberg reported that US President Donald Trump will extend the ceasefire with Iran until negotiations between the two sides make progress.
Reports indicated that Vice President JD Vance canceled a planned visit to Islamabad for negotiations after Tehran informed Washington via Pakistan that it would not attend the meeting. Read more…
GBP/USD slips back as US data offsets Iran ceasefire risk-on boost
GBP/USD slid 0.15% on Tuesday, settling close to 1.3500 after a volatile session that traded a roughly 60-pip range. Price unwound twice during European and US trade with sharp downside candles, only to bounce back off the lows on each occasion before recovering modestly into the close.
The Iran standoff drove the early tape after President Trump extended his self-imposed deadline for direct talks, with Tehran declining to send a delegation to the proposed venue. The White House framed the move as a final goodwill gesture, though traders read it as another postponement in a sequence of shifting positions. Risk appetite firmed at first, weighing on the US Dollar, before stronger-than-expected March Retail Sales (+1.7% MoM versus +1.4% forecast) and notably hawkish testimony from Fed Chair-designate Kevin Warsh pulled flows back into the Greenback through the US session. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-faces-slight-offers-after-the-uk-cpi-data-release-202604220636
