Day: May 3, 2024

Pound Sterling Rally Stalls on Renewed Inflation Worries

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The Pound Sterling (GBP) retreated against the US Dollar (USD) on Friday, failing to hold above the key resistance level of 1.2600. Technical Analysis: Uncertain Near-Term Outlook Overall, the future direction of the Pound Sterling hinges on the market’s assessment of the Fed’s monetary policy stance and the development of inflation pressures in the US.

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