GBP/USD bulls cheer US Dollar weakness, Fed hawks’ retreat above 1.2400 – by anilpanchal7 GBPUSD Inflation RiskAversion Fed Brexit
pair ignores downbeat inflation forecasts and Brexit concerns at home amid optimistic comments from the Bank of England Officials. dropped the most in a fortnight the previous day to test the lowest levels in two months as downbeat US data and yields weigh on the Federal Reserve bets.
Softer US PMIs joined the market’s lack of fears from the OPEC+ supply cuts and the resulting Oil price run-up to weigh n the yields. That said, the US 10-year Treasury bond yields printed a four-day downtrend to 3.41% at the latest. Further, the latest monthly survey from Citi and YouGov, published on Monday, said the UK public's inflation expectations eased in March after edging a tad higher in February. ‘For 12 months ahead, the UK public inflation expectations eased to 5.4% in March from 5.6% in February,” states the survey details.
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