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Forex

GBP Takes Hit as Hot PPI Triggers Fed Hike Speculation

Guavy AI Editorial Team
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USD GBP
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The British Pound (GBP) declined against the US Dollar (USD) on Thursday due to the higher-than-expected US producer inflation report. This has led investors to price in a more hawkish Federal Reserve, which could result in interest rate hikes.

The GBP/USD pair traded at 1.3525, down 0.17%, as the market reacted to the news. The short-term trend remains bullish, with the nine- and 50-day Exponential Moving Averages (EMAs) below the current price indicating a constructive trend.

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