The Pound Sterling (GBP) faced significant losses against its major counterparts on Wednesday, following the release of the UK Consumer Price Index (CPI) data for October. The inflation rate cooled as anticipated, weighing heavily on market sentiment. GBP/USD slipped to 1.2950, reflecting a drop of 0.5%, while GBP/EUR also fell, trading around 1.1410 as investors reassessed the UK's economic outlook.
This decline in the pound was largely influenced by the expectation that the Bank of England may maintain a cautious stance on interest rates amid easing inflation pressures. As traders adjusted their positions, the exchange rate movements highlighted a broader trend of currency consolidation. The recent data could signal potential challenges for the GBP in the near term, particularly against the backdrop of a stronger USD and resilient EUR.
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Data Source: FX Killer Analysis Team Updated: 2025-11-19 11:18
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.