USD/GBP (GBP=X)
| Previous close | 0.7862 |
| Open | 0.7862 |
| Bid | 0.7857 |
| Day's range | 0.7850 - 0.7870 |
| 52-week range | 0.7609 - 0.8304 |
| Ask | 0.7857 |
- Investing.com
Dollar steadies after sharp gains post Fed minutes; sterling retains strength
The U.S. dollar handed back some of the previous session’s gains Thursday, but remained near a one-week high after the release of hawkish minutes from the last Federal Reserve meeting suggested U.S. interest rates would remain elevated for some time. The minutes of the Fed’s late-April meeting showed policymakers were growing increasingly concerned over sticky inflation, with some Fed officials talking about potentially raising rates further to bring down inflation. Several Fed officials have subsequently cautioned about inflation levels in speeches following the gathering.
FX EmpireJapanese Yen Is on the Edge
In this week’s Exness Market Outlook we dissect the GBPJPY’s precarious stance on the forex ice.
- Investing.com
Dollar steady ahead of Fed minutes, sterling gains on CPI release
The U.S. dollar traded calmly Wednesday ahead of the release of the minutes from the last Federal Reserve meeting, while sterling gained as inflation fell by less than expected in April. The dollar is struggling to move in any meaningful fashion as traders await the release of the minutes from the last Fed meeting, searching for more cues on the likely path of U.S. interest rates towards the end of the year. Last week’s soft-than-expected consumer inflation data raised hopes of rate cuts in a reasonably short time, but a series of Fed officials have continued to call for policy caution.
