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Forex

GBP Extends Winning Streak as Market Awaits Crucial Inflation Reports

Guavy AI Editorial Team
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USD GBP
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The British Pound (GBP) has extended its winning streak for five consecutive days, trading around 1.3540 during the Asian hours on Thursday.

Market participants are closely watching the upcoming US Producer Price Index (PPI) data due on Thursday and Consumer Price Index (CPI) data on Friday, which could provide vital hints regarding the Federal Reserve's monetary policy outlook ahead of its meeting next week.

Traders have increased their bets on an interest rate hike after recent stronger US jobs data, with the CME FedWatch Tool pricing in about 60% odds for a rate increase at the central bank's upcoming policy meeting.

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