- Analytics
- News and Tools
- Market News
- GBP/USD: Broader trends remain constructive – Scotibank
GBP/USD: Broader trends remain constructive – Scotibank
UK inflation data for July came in lower than expected. Headline prices fell 0.2% m/m, leaving inflation at 2.2% over the year. Core prices rose 3.3% in the July year, versus 3.4% expected and 3.5% in June. Even sticky Services inflation eased a bit more than forecast—but remains elevated at 5.2% y/y, Scotiabank’s chief FX strategist Shaun Osborne notes.
Minor dips to the 1.28 area remain well-supported
“Markets are still pricing in less than 50% risk of a BoE rate cut in September but continue to anticipate 50bps of additional easing by year-end. That’s not much different from earlier in the week.”
“Sterling’s rebound from last week’s low has stumbled a little this morning but losses are not too significant from a technical perspective and may already be stabilizing. Broader trends in GBP/USD remain constructive following last week’s strong—bullish—reversal. Minor dips to the 1.28 area should remain well-supported.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
