17/05/2024
The USD rebounded yesterday after four days of consecutive losses, prompted by a reduction in initial jobless claims from the previous week.
USD weakened after disappointing CPI and retail sales figures from the US, with CPI below the forecast at 0.3%.
Yesterday, the dollar saw a decline while awaiting the US inflation report.
GBP experienced broad gains yesterday and into this morning ahead of the release of job numbers.
A series of speeches from Fed officials on Friday underscored their worries about inflation, bolstering the USD as markets closed.
The Bank of England, led by Governor Bailey, hinted strongly at forthcoming rate cuts, potentially happening sooner than currently anticipated by markets.