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GBP/USD remains capped below 1.2470, eyes on US data

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GBPUSD News

Majors,Macroeconomics

The GBP/USD pair trades on a softer note around 1.2450 during the early Asian trading hours on Thursday.

GBP/USD edges lower to 1.2450 in Thursday’s early Asian session. Further easing in UK inflation data prompted the expectation that the BoE will start lowering interest rates this year. Fed Chair Jerome Powell said he will wait longer than previously expected to cut rates after unexpectedly upside inflation readings.

On the USD’s front, the upbeat February's Retail Sales earlier this week suggested a robust economy in the United States. The report triggered speculation that the Federal Reserve might delay its easing cycle this year. The Fed Chair Jerome Powell stated that he will wait longer than previously expected to cut rates after unexpectedly upside inflation readings.

 

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