Pound Advances As Investors Await US Inflation Data

RTTNews | 473 dagar sedan
Pound Advances As Investors Await US Inflation Data

(RTTNews) - The pound was higher against its major counterparts in the New York session on Monday, as investors awaited key economic data due later this week for more clues on the Fed's interest rate cut trajectory for this year.

U.S. producer price inflation data for April is due on Tuesday, while the more closely watched consumer price inflation figures will be published on Wednesday.

The CPI reading could offer more clues on the likelihood of interest rate cuts this year.

Traders see a 61.2 percent possibility that the Fed will cut rates in September.

Federal Reserve Vice Chair Philip Jefferson said that it will be appropriate to maintain the current restrictive monetary policy stance until there is evidence that inflation is slowing further.

The pound appreciated to a 6-day high of 1.2568 against the greenback and a 10-day high of 1.1403 against the franc, off its early lows of 1.2510 and 1.1344, respectively. The pound is seen finding resistance around 1.28 against the greenback and 1.22 against the franc.

The pound climbed to a 4-day high of 0.8592 against the euro and near a 2-week high of 196.28 against the yen, from its early lows of 0.8608 and 194.74, respectively. The pound is poised to challenge resistance around 0.84 against the euro and 199.00 against the yen.

read more
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | 20h 53minuter sedan
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 21h 33minuter sedan
Euro Climbs Against Majors

Euro Climbs Against Majors

The euro firmed against its major counterparts in the New York session on Thursday.
RTTNews | 1 dag sedan
U.S. Dollar Falls Amid Fed Rate Cut Speculation

U.S. Dollar Falls Amid Fed Rate Cut Speculation

The U.S. dollar weakened against other major currencies in the Asian session on Thursday, after the Fed official left the door open for an interest rate cut next month.
RTTNews | 2 dagar sedan
Euro Falls Amid Political Uncertainty

Euro Falls Amid Political Uncertainty

The euro weakened against other major currencies in the European session on Wednesday, as trader's concern about the collapse of France's government.
RTTNews | 2 dagar sedan
Euro Falls Against Majors

Euro Falls Against Majors

The euro weakened against other major currencies in the European session on Wednesday.
RTTNews | 2 dagar sedan