GBP/USD rebounds to near 1.1100 as risk-on mood emerges, US inflation buzz – by Sagar_Dua24 GBPUSD Fed BOE Inflation RiskAppetite
GBP/USD has sensed a decent buying interest at around 1.1020 as the risk-off mood has started fading away.The US core CPI seems a major concern for the Fed.has displayed a sheer pullback move after dropping to near 1.1019 in the Tokyo session. The cable has recovered to near 1.1100 and is expected to extend its recovery amid an improvement in the risk appetite of the market participants. S&P500 futures have turned into the green after picking a decent demand.
Meanwhile, the US dollar index is oscillating near the round-level cushion of 113.00 and may deliver a downside break as the risk-off impulse has started fading away. The commentary from Federal Reserve Vice Chair Lael Brainard at Monday's National Association for Business Economics conference, citing economic prospects has impacted the DXY’s rally.
Fed policymaker stated that the policy tightening measures have started displaying their multiplier effects. She further cited that "Output has decelerated so far this year by more than anticipated, suggesting that policy tightening is having some effect" in sectors like real estate, which are directly tied to borrowing costs for home mortgages. Fed policymaker sees no growth in real Gross Domestic Product growth later this year. data will keep investors on their toes.
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