GBP/USD Tumbles Under 1.3400 as Soft CPI All but Guarantees BoE Easing

GBP/USD tumbles under 1.3400 as soft CPI all but guarantees BoE easing

GBP/USD drops below 1.3400 on Wednesday as the latest inflation report in the United Kingdom (UK) dipped sharply ahead of the Bank of England’s (BoE) monetary policy decision on Thursday. At the time of writing, the pair hovers around 1.3350, down 0.48%.

GBP/USD Forecast: Pound Slumps Amid Dismal UK CPI Ahea of BoE

The GBP/USD forecast remains bearish below 1.3350 as dismal UK CPI weighs on the pound. Rising unemployment and downward-trending UK CPI cement the odds of a BoE rate cut on Thursday. The weakening dollar keeps pound losses limited, with eyes on the US CPI data ahead. The British pound plummeted against the US Dollar on Wednesday following the weaker-than-anticipated UK inflation figures in November. The GBP/USD pair fell by over 0.5% towards th…

Pound-to-Dollar Forecast: GBP/USD Crashes After Sharp UK Inflation Drop

Pound Sterling reversed earlier gains as UK inflation fell sharply, dragging the Pound to Dollar exchange rate (GBP/USD) back to 1.3326 despite continued doubts over the dollar outlook.