GBP/USD clings to 1.2650 amid improved risk appetite, awaits US CPI
GBP/USD holds ground in the positive territory, hovering around 1.2650 during the early Tuesday. The pair gained ground on improved risk appetite ahead of Consumer Price Index data scheduled on Wednesday.
The Sterling has opened the week on a slightly bullish tone. A somewhat softer US Dollar amid the moderate risk appetite has allowed the pair to extend its recovery from post-NFP lows, returning to the mid-range of the 1.2600s.
The Positive market sentiment is weighing on the US Dollar, yet downside attempts are likely to remain limited. Investors are expected to keep a cautious tone ahead of the release of the US Consumer Prices Index data on Wednesday.
GBP/USD holds ground in the positive territory, hovering around 1.2650 during the early Tuesday. The pair gained ground on improved risk appetite ahead of Consumer Price Index data scheduled on Wednesday.
The Sterling has opened the week on a slightly bullish tone. A somewhat softer US Dollar amid the moderate risk appetite has allowed the pair to extend its recovery from post-NFP lows, returning to the mid-range of the 1.2600s.
The Positive market sentiment is weighing on the US Dollar, yet downside attempts are likely to remain limited. Investors are expected to keep a cautious tone ahead of the release of the US Consumer Prices Index data on Wednesday.
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By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) -The dollar was little changed on Tuesday, with investors cautious ahead of U.S. inflation data to be released on Wednesday, even as the yen hovered near multi-decade lows, keeping traders on alert for any possible action from Japan to prop up its currency.
Economists expect the headline U.S. consumer price index (CPI) to have gained 0.3% on a monthly basis, compared with a 0.4% rise in February, according to a Reuters poll. Core CPI is also expected to climb 0.3% for the month of March.
Ahead of the CPI report, the U.S. rate futures market has raised the odds of a June rate cut to 58%, up from 52% late on Monday, the CME's FedWatch tool showed.
NEW YORK (Reuters) -The dollar was little changed on Tuesday, with investors cautious ahead of U.S. inflation data to be released on Wednesday, even as the yen hovered near multi-decade lows, keeping traders on alert for any possible action from Japan to prop up its currency.
Economists expect the headline U.S. consumer price index (CPI) to have gained 0.3% on a monthly basis, compared with a 0.4% rise in February, according to a Reuters poll. Core CPI is also expected to climb 0.3% for the month of March.
Ahead of the CPI report, the U.S. rate futures market has raised the odds of a June rate cut to 58%, up from 52% late on Monday, the CME's FedWatch tool showed.
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