GBP/USD hits 15-month peak amid UK jobs surge, USD weakness – by christianborjon GBPUSD Currencies Majors
Bank of England rate hike prospects bolster the Pound Sterling
The GBP/USD climbed towards 1.2900 on the data but failed to crack the latter on its first try. Later, the 1.29 figure gave In, exacerbating a rally to a new year-to-date high, opening the door for a possible test of the 1.3000 figure in the near term. The Consumer Price Index for June is foreseen to fall to 3.1% YoY, from 4% in May, while month-over-month is estimated at 0.3%, higher than May’s 0.1%. Excluding volatile items, the core CPI is estimated to cool down to 5% YoY from 5.3% in the last month. In comparison, MoM data is estimated at 0.3%, a downtick from the latest 0.4% readings during the previous two months.
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