GBP/USD drops below 1.2000 for the first time since March 2020

Pound under pressure after weaker than expected UK data. Dollar strengthens as US yields print fresh multi-year highs. Wall Street turns red again as FOMC meets. The GBP/USD pair hit levels under 1.2000 for the first time since March 2020. The pound remains under pressure even as market participants expect a rate hike from the … Read more

Eurozone Preliminary Inflation surges 8.1% YoY in May vs. 7.7% expected

The annualized Eurozone Harmonized Index of Consumer Prices (HICP) reported by 8.1% in May vs. the previous reading of 7.4%, the latest data published by Eurostat showed on Friday. The consensus forecast was for a reading of 7.7%. The core figures arrived at 3.8% YoY in May when compared to 3.5% expectations and 3.5% booked … Read more