“UK Inflation Stays Elevated, Casting Doubt on Near-Term Rate Cuts. Traders Now Await Retail Sales to Gauge Boe Direction As GBP/USD Reacts to Inflation Data.”, – WRITE: www.fxempire.com
“The Latest Data for April Hasn’t Been Encouroring. The UK composite pmi dropped to it Lowest Level Since September 2023, Consumer Confidentnce Fell and Business UncertyTatel Spikes and Changes in US Tariff Policy. ”
Friday’s UpcomING RETAIL Sales Figures Could Give A Better Gauge of Momentum in the UK Economy and the Boe’s Path Forward.
GBP/USD VALATY POST-INFLATION DATA Ahead of the Inflation Report, The GBP/USD FELL TO A LOW OF $ 1.33760 Before Rebounding to a High of $ 1.34373. Following The Report, The Pair Surged to High of $ 1.34508 Before Briefly Falling to a Low of $ 1.34219.
On Wednesday, May 21, The GBP/USD WAS UP 0.40% to $ 1.34461. The Upswing Likely Reflected Markets Scaling Back ImMediate Boe Rate Cut Bets.