{"id":92835,"date":"2023-11-20T22:01:28","date_gmt":"2023-11-20T18:01:28","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=92835"},"modified":"2023-11-21T01:17:27","modified_gmt":"2023-11-20T21:17:27","slug":"gbp-usd-flirts-with-nine-week-high-amid-uk-inflation-decline","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gbp-usd-flirts-with-nine-week-high-amid-uk-inflation-decline\/11\/20\/market-updates\/","title":{"rendered":"GBP\/USD flirts with nine-week high amid UK inflation decline"},"content":{"rendered":"\n<p>The GBP\/USD pair has surged by over 0.35% during the mid-North American trading session, reaching a peak at 1.2517 before stabilizing at 1.2495.<br><br>Market odds suggest a less than 10% chance of a rate hike by June 2024, with speculation suggesting the Bank of England may have ended its monetary policy tightening cycle. <br><br>If the pair closes above 1.2700, it may test 1.2700, but if not, a retreat towards 1.2400 is anticipated. The first rate cut is priced in for June 2024, with odds of a rate hike being less than 10%. <br><br>UK Prime Minister Rishi Sunak announced tax reductions following inflation decline, while chancellor Jeremy Hunt plans to revitalize the economy. <br><br>The Leading Index fell more than anticipated, indicating a slowdown due to worsening business and consumer conditions, declining ISM Index for New Orders, and a pessimistic outlook.<br><br>Buyers of GBP\/USD are predicted to test the peak from September 11 at 1.2548 before the 1.2600 mark.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The GBP\/USD pair has surged by over 0.35% during the mid-North American trading session, reaching a peak at 1.2517 before stabilizing at 1.2495.Market odds suggest a less than 10% chance of a rate hike by June 2024, with speculation suggesting the Bank of England may have ended its monetary policy tightening cycle. If the pair &hellip;<\/p>\n","protected":false},"author":13,"featured_media":38563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7202,7034,10150],"class_list":["post-92835","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-bank-of-england","tag-gbp-usd","tag-uk-inflation"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=92835"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92835\/revisions"}],"predecessor-version":[{"id":92842,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92835\/revisions\/92842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/38563"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=92835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=92835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=92835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}