The GBP/JPY rose sharply during Wednesday’s session, posting gains of over 1.22% or 230 plus pips after a hot US inflation report sent the Greenback higher and pushed the Japanese Yen (JPY) lower against most G8 FX currencies.
GBP/USD is coiled around 1.2450, churning the charts near middling technical ground as Pound Sterling traders await the UK’s latest Gross Domestic Product (GDP) growth figures.
The White House said late Wednesday that US President Donald Trump could announce his reciprocal tariff plan before he meets with Indian Prime Minister Narendra Modi on Thursday, per CNBC.
Topping the priorities of the Cyprus Securities and Exchange Commission (SEC) in 2025 is the impact if artificial intelligence (AI) and the Market in Crypto-Assets Regulation (MiCA).
The USD/JPY rallied sharply on Wednesday after a hot US inflation report spurred a jump in the US 10-year Treasury yield, closely correlated with the major.
The US Dollar succumbed to the late selling pressure and faded the post-CPI move to weekly highs, while investors kept digesting Powell’s testimonies and sticky consumer prices in January.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, initially climbed after January’s hotter-than-expected Consumer Price Index (CPI) data but then reversed course.
The Mexican Peso (MXN) extended its gains against the US Dollar (USD) for the second consecutive day, unfazed by the jump in inflation in the United States (US), preventing the Federal Reserve (Fed) from easing policy.
EUR/USD clawed back chart paper on Wednesday, rebounding from early losses to reclaim the 1.0400 handle as markets shake off a fresh batch of US inflation figures that broadly accelerated in January.
Federal Reserve (Fed) Bank of Atlanta President added his own soundbites to the noise machine of Fed headlines on Wednesday, noting that despite still-strong labor figures, US inflation continues to remain a sticking point, especially after US Consumer Price Index (CPI) inflation figures ticked higher in January.
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