GBP/USD Surges on Strong Inflation, Solidifying Expectations of June Rate Hike
The UK Consumer Price Index (CPI) remains steady at 8.7% YoY in May, while core inflation unexpectedly rises to 7.1% from 6.8%, indicating that inflationary pressures have not yet peaked. The surge is attributed to factors such as used car prices, recreation, and airline tickets, suggesting that inflation extends beyond food and fuel. This data […]
GBP/JPY Forecast: Navigating Resistance Levels
The GBP/JPY pair continues its volatile movement, displaying an overall long-term upward momentum. Despite rallying above the significant ¥175 level against the Japanese yen, the market is facing substantial resistance, potentially indicating a slowdown in the British pound’s momentum. However, there is notable support beneath, attracting value-seeking buyers. The ¥175 level, previously a strong resistance […]
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