GBP/USD surpasses 1.2150 despite Fed sees hawkish policy continuation into 2024 GBPUSD BOE Fed Inflation SEO
is looking for an immediate cushion after a sheer fall. The USD Index is likely to test a six-month low of around 103.00, considering the bearish momentum in the asset. Also, the 10-year US Treasury yields slipped to near 3.56%.A slowdown in an economy is favorable for a decline in inflationary pressures but also fired up recession fears too.
Chicago Fed President Evans quoted in Wall Street Journal , “It was possible the economic data would support raising the policy rate by 25 basis points at the Fed's next gathering” as reported by Reuters.
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