Pound Sterling gained ground on risk-on sentiment ahead of US consumer prices – Crypto News

GBP/USD clings to 1.2650 amid improved risk appetite, awaits US CPI

GBP/USD holds ground in the positive territory, hovering around 1.2650 during the Asian session on Tuesday. The pair gained ground on improved risk appetite ahead of Consumer Price Index data scheduled on Wednesday.

The US Dollar (USD) faces challenges amid market fluctuations, influenced by the cautious stance of the Federal Reserve. According to the CME FedWatch Tool, the probability of a 25-basis point rate cut by the Fed in June has decreased to 51.1%. Read more…

GBP/USD keeps a mild bid tone, aiming for 1.2685

The Sterling has opened the week on a slightly bullish tone. A somewhat softer US Dollar amid the moderate risk appetite has allowed the pair to extend its recovery from post-NFP lows, returning to the mid-range of the 1.2600s.

The Positive market sentiment is weighing on the US Dollar, yet downside attempts are likely to remain limited. Investors are expected to keep a cautious tone ahead of the release of the US Consumer Prices Index data on Wednesday. Read more…