GBP/USD forecast: US dollar rebounds ahead of US CPI, UK GDP
The US dollar is making a comeback as investors await the release of key economic data. The US Consumer Price Index (CPI) and UK Gross Domestic Product (GDP) reports are set to be announced, which could impact the GBP/USD currency pair.
Market participants are closely monitoring the US CPI data, as inflation levels play a crucial role in determining the Federal Reserve’s monetary policy decisions. A higher-than-expected CPI reading could strengthen the US dollar, while a lower figure might lead to a decline in the currency.
On the other hand, the UK GDP report will provide insights into the health of the British economy. Any positive surprises in the data could boost the pound sterling against the US dollar. However, disappointing figures could weigh on the GBP/USD pair.
Overall, traders should keep a close eye on these upcoming economic releases, as they are likely to drive volatility in the currency markets. Stay tuned for further updates on the GBP/USD forecast.