The GBP/USD currency pair experienced a robust rally, climbing above the 1.3400 mark to reach approximately 1.3435 during the early European session on Tuesday. This upward movement was driven by better-than-expected inflation data from the UK for December, which boosted the Pound Sterling against the US Dollar. The stronger inflation figures suggest potential shifts in monetary policy that may support further gains for GBP.
As traders anticipate more economic data from the US later in the day, market sentiment could shift towards caution. Analysts are closely monitoring the upcoming announcements, as they could impact the USD exchange rate and trading patterns in the broader forex market. The interplay between UK inflation and US economic indicators will be crucial in determining the direction of the GBP/USD pair in the near term.
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Data Source: FX Killer Analysis Team Updated: 2026-01-22 05:28
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.