GBP/USD conquers 1.2200 on risk-appetite, despite rising geopolitical tensions

GBP/USD jumps off last week's lows and reclaims 1.2200 amid rising geopolitical tensions, which has been tossed aside, as Wall Street portrays an impr

GBP/USD jumps off last week's lows, reclaiming 1.2200, amidst rising geopolitical tensions. US equities recover some losses, with the Greenback under pressure as DXY drops 0.55% to 105.57. Upcoming economic data includes US Q3 GDP and core PCE, with UK employment data and S&P Global PMIs on the horizon. ovement in market sentiment, a headwind for the CBOE Volatility Index and US Treasury bond yields. At the time of writing, the GBP/USD is trading at 1.2251, a gain of 0.73%.

The CME FedWatch Tool does not show odds for a rate hike in November, though odds for January 2024 remain above 30%. Up next, the US calendar would reveal the preliminary reading of the third quarter Gross Domestic Product , along with the Fed’s preferred gauge for inflation, the core PCE. On the UK front, the docket would feature employment data to be released by the Office for National Statistics , which would not feature inflation data.

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