GBP/USD Outlook: Bulls move to sidelines amid UK political uncertainty, modest USD strength – by hareshmenghani GBPUSD Fed Inflation BOE Currencies
The UK political uncertainty overshadows a stronger CPI and does little to lend any support.The GBP/USD pair
In fact, rebels within the ruling Tory Party are coming together to replace the newly-elected UK Prime Minister Liz Truss in the wake of the recent tax cut fiasco. This, along with looming recession risks, overshadows hotter UK consumer inflation figures, which does little to lend any support to the GBP/USD pair. The UK Office for National Statistics reported that the headline CPI rose more than expected by 10.1% YoY in September.
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