<\/p>\n
The GBP\/USD<\/a> pair extends its upside near 1.2688 on Thursday during the early Asian session.\u00a0The uptick of the\u00a0major\u00a0pair is supported by the weaker Greenback after the release of softer US CPI inflation data.\u00a0Later in the day, the US Building Permits, Housing Starts, the weekly Initial Jobless Claims, the Philly Fed Manufacturing Index, and Industrial Production will be released. Also, the Federal Reserve\u2019s (Fed) Barr, Harker, Mester, and Bostic\u00a0are set\u00a0to speak on Thursday.\u00a0<\/p>\n Inflation in the United States<\/a> eased slightly in April.\u00a0The Consumer Price Index (CPI) rose 3.4% on\u00a0a yearly basis in April, compared to an increase of 3.5% in March, according to\u00a0the US Bureau of Labor Statistics (BLS) on Wednesday.\u00a0The annual core CPI inflation eased to 3.6% YoY in April from 3.8% in the previous reading. Both figures came in line with the estimation.\u00a0On a monthly basis, the CPI and the core CPI\u00a0both\u00a0rose 0.3% MoM in April. The softer inflation data raised the odds for a\u00a0Federal Reserve\u00a0(Fed) rate cut in 2024, which\u00a0drag\u00a0the US Dollar (USD) lower and create a tailwind for the GBP\/USD pair.\u00a0<\/p>\n Furthermore, the final reading of Retail Sales showed no change in April from the previous reading of a 3% increase, worse than the market expectation of 0.4%.\u00a0<\/p>\n On the GBP\u2019s front, the UK employment data showed job market conditions deteriorated for the third consecutive month as the Unemployment Rate<\/a> rose. Nonetheless, the Bank of England<\/a> (BoE) policymakers remain concerned over high service inflation as it could stall progress in the disinflation process.\u00a0This\u00a0prompted uncertainty over the BoE interest rate cuts.\u00a0<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" GBP\/USD gains momentum around 1.2688 amid the weaker USD on Thursday.\u00a0 The US CPI inflation eased to 3.4% YoY in April from 3.5% in March, as estimated.\u00a0 Steady UK wage growth raised fears of persistent inflationary pressures. The GBP\/USD pair extends its upside near 1.2688 on Thursday during the early Asian session.\u00a0The uptick of the\u00a0major\u00a0pair […]<\/p>\n","protected":false},"author":2,"featured_media":7250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,641,255,250,333,277,252,247,253,249,256,254],"class_list":["post-302901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","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\/302901","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=302901"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302901\/revisions"}],"predecessor-version":[{"id":302902,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302901\/revisions\/302902"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7250"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=302901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=302901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=302901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}