March 13, 2024 – Written by Frank Davies
Leave a comment STORY LINK GBP/USD Attempts to Regain 1.2800
The dollar spiked higher in immediate reaction to the stronger-than-expected consumer prices data, but it failed to hold the gains.
The Euro to Dollar (EUR/USD) exchange rate dipped to near 1.09 before a rebound to around 1.0940.
After losses following the UK wages data, the Pound to Dollar (GBP/USD) exchange rate also slumped to near 1.2750 before recovering to near 1.2800.
There will still be the risk of an adverse reaction and stronger dollar later in the session.
US consumer prices increased 0.4%…
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