The Pound Sterling consolidated at three-month highs near 1.2800 against the US Dollar but failed to hold onto gains. GBP/USD buyers gather pace for the next push higher as the Fed decision looms. The Pound Sterling eyes a weekly close above 1.2800 to extend the bullish momentum. The Pound Sterling continued its battle with the 1.2800 level against the US Dollar this week, as the GBP/USD pair lost momentum after clinching a fresh three-month top near 1.2820.
Week ahead: US inflation and Fed verdict hold the key Although traders gear up for the top-tier employment and the monthly Gross Domestic Product report from the United Kingdom in the upcoming week, Wednesday’s US Consumer Price Index data and Fed policy announcements will likely steal the show. Also, of note will be the US Producer Price Index data during the week, as the Fed policymakers will take up the rostrum from Thursday once the ‘blackout period’ ends.