Pound Takes Hit from Hawkish Fed Bets After US Inflation Surprise

The Pound Sterling has lost ground against the US Dollar in Thursday's trading session following the release of the latest US producer inflation report.

The data showed a higher-than-expected increase in prices, which prompted investors to price in a more hawkish Federal Reserve policy stance.

This led to selling pressure on the Pound, with GBP/USD falling 0.17% to 1.3525 at the time of writing.

The pair has maintained its modest bullish bias above both the nine- and 50-day Exponential Moving Averages (EMAs), but the short-term trend is still uncertain.