GBP/USD bulls attack 1.2200 despite mixed feelings for Britain, focus on UK GDP, Fed’s preferred inflation – by anilpanchal7 GBPUSD Politics BOE Fed RiskAppetite
UK policymakers stay determined to not budge on nurses' pay despite fears of second nationwide walkout on Tuesday.Final readings of UK Q3 GDP, US Core PCE Price Index for November will be important for clear directions.
The Cable pair’s latest run-up could be linked to the broad-based US Dollar pullback, despite the hawkish Fedspeak. In doing so, thealso pays a little heed to the headlines suggesting more pain for the UK’s economy, as well as political jitters surrounding the workers’ pay and the resulting walkouts.
It should be noted that an estimated 10,000 nurses in the state-funded National Health Service in England, Wales and Northern Ireland plan to walk out again on Tuesday after staging strikes on Thursday in protest over the pay increase they have been offered. Additionally probing the Cable pair buyers is China’s lowest business confidence in 10 years and the Bank of England’s hidden signals that the “Old Lady”, as it is informally known, is up for slower rate hikes and monetary policy normalization.
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