USD – The dollar rose on Wednesday, breaking its three-session losing streak as concerns about the outlook for global economic growth and rising inflation knocked sentiment a day Fed Chair Powell struck a more hawkish tone, reaffirming the Fed’s commitment to tackle high levels of inflation.
GBP – The pound sold-off on Wednesday as CPI data showed inflation reached a 40-year high in April – more than four times the Bank of England’s 2% target.
Commenting after the release, Bluebay Asset Management noted that “the pound has the weakest outlook among all the major currencies as the central bank’s reluctance to raise interest rates aggressively means it has the lowest inflation-adjusted yield among its rivals.”
GBP – The pound sold-off on Wednesday as CPI data showed inflation reached a 40-year high in April – more than four times the Bank of England’s 2% target.
Commenting after the release, Bluebay Asset Management noted that “the pound has the weakest outlook among all the major currencies as the central bank’s reluctance to raise interest rates aggressively means it has the lowest inflation-adjusted yield among its rivals.”