Pound Slumps as UK Inflation Falls in January
The release of softer UK CPI data has pushed the pound lower and increased Bank of England (BoE) rate-cut expectations.
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The release of softer UK CPI data has pushed the pound lower and increased Bank of England (BoE) rate-cut expectations.
The US dollar (USD) gained on Thursday after remaining flat on Wednesday.
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The GBP/USD price outlook for 2024 is challenging as there are numerous unknowns and uncertainties.
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The Australian dollar (AUD) recovered, despite the release of disappointing economic data from Australia on Thursday.
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The USD has remained steady against its major rivals and financial markets are moderately quiet as investors await the release of the US inflation data.
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The AUD/USD pair has strengthened as market risk sentiment has improved and the dollar has weakened.
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All eyes are on the Federal Reserve’s policy decision, and investors will closely watch Chair Jerome Powell’s speech for guidance on further tightening.
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The European Central Bank is releasing its interest rate decision today and markets anticipate the central bank to remain on hold.
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The pound (GBP) continued to rise on Tuesday as market sentiment has improved and the UK reported relatively better-than-expected data.
By Katie Oliver
GBP recovered and attracted investor interest after the release of the United Kingdom’s ONS reported on inflation.
Universal Partners FX Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution under the Payment Services Regulations 2017. Our FCA Firm Reference Number is 820037.
For some clients based in the United Kingdom and rest of the world, payment services and e-money services for Universal Partners FX Ltd are also provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).
For clients based in the European Economic Area, payment services for Universal Partners FX Ltd are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).
For clients based in the United States, payment services for Universal Partners FX Ltd are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011.
© Copyright Universal Partners FX 2023 | All Rights Reserved | Universal Partners FX Ltd, The South Quay Building, 77 Marsh Wall, Canary Wharf, London, E14 9SH, United Kingdom. Registered in England & Wales, number: 10674030.