{"id":193110,"date":"2023-11-14T08:18:41","date_gmt":"2023-11-14T02:48:41","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=193110"},"modified":"2023-11-14T08:18:41","modified_gmt":"2023-11-14T02:48:41","slug":"gbp-usd-faces-pressure-near-1-2270-ahead-of-uk-employment-data-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/gbp-usd-faces-pressure-near-1-2270-ahead-of-uk-employment-data-crypto-news\/","title":{"rendered":"GBP\/USD faces pressure near 1.2270 ahead of UK employment data &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>GBP\/USD snaps a two-day winning streak ahead of UK data.<\/strong><\/li>\n<li><strong>BoE policymakers expressed fear over the deepening recession, endorsing rate cuts.<\/strong><\/li>\n<li><strong>US CPI is expected to rise but at a slower pace. with the core annual rate to remain stable.<\/strong><\/li>\n<\/ul>\n<p>GBP\/USD trades lower around 1.2270 during the Asian session on Tuesday, snapping a two-day winning streak. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/gbpusd\">The GBP\/USD pair<\/a> faces minor pressure ahead of the employment data from the United Kingdom (UK) due to be released later in the day.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/boe\">Bank of England<\/a> (BoE) policymakers Huw Pill and Katherine Mann expressed concerns about the potential cumulative effect of higher interest rates in the ongoing battle against persistent inflation. Fearing a deepening recession, they are expected to endorse earlier rate cuts.<\/p>\n<p>The market sentiment for the Pound Sterling (GBP) received a boost as the UK preliminary Gross Domestic Product (GDP) data showed better-than-expected figures last Friday. This suggests that the UK may have avoided a recession in 2023. However, the growth outlook remains downbeat, with projections indicating a decline in fresh investments from firms for capacity expansion in the last quarter. This downturn is attributed to weak demand from both domestic and overseas markets.<\/p>\n<p>The US <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">Dollar Index<\/a> (DXY) struggles to halt losses, bidding around 105.70 at the time of writing. However, the Greenback could cheer the recovery in US Treasury yields. The yield on a 10-year US bond yield improved to 4.65% by the press time.<\/p>\n<p>The anticipation is high as market participants await the upcoming US inflation data set to be unveiled later in the North American session. Projections indicate a rise in the Consumer <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Price Index<\/a> (CPI) for October, albeit at a slower pace. Meanwhile, the forecast for the core annual rate remains stable. If the actual data aligns with these expectations, it could reinforce the market&#8217;s belief that the Federal Reserve (Fed) has completed its interest rate hikes, which in turn, could strengthen the downward pressure on the US Dollar (USD).<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: GBP\/USD snaps a two-day winning streak ahead of UK data. BoE policymakers expressed fear over the deepening recession, endorsing rate cuts. US CPI is expected to rise but at a slower pace. with the core annual rate to remain stable. GBP\/USD trades lower around 1.2270 during the Asian session on Tuesday, snapping a two-day [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":34678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,712,248,251,246,257,641,255,250,333,277,252,247,253,249,256,254],"class_list":["post-193110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boe","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gbpusd","tag-gta","tag-looks-rare","tag-macroeconomics","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/193110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=193110"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/193110\/revisions"}],"predecessor-version":[{"id":193111,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/193110\/revisions\/193111"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/34678"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=193110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=193110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=193110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}