GBP/USD jumps above the 1.2950 mark ahead of US inflation data – by FXstreetNews GBPUSD Currencies RiskAppetite Fed CPI
rose to 4.0% in the quarter to May from 3.8% in the three months to April. Additionally, the Claimant Count Change showed a significant increase. The figure jumped by 25.7K in June versus the previous month’s -22.5K. The Average Earnings, excluding bonuses, came in at 7.3% 3Mo/YoY May versus 7.3% prior and 7.1% market consensus.
Looking ahead, market players will pay attention to BoE Governor Andrew Bailey’s speech and the US Consumer Price Index later in the day. Technically, GBP/USD is back above the 1.2900 region, resistance-turned-support on Wednesday. The next strong barrier at the 1.3000 area is next on the card, while the critical support is seen at 1.2900.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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