GBP/USD extends its winning streak for the fifth consecutive day, trading around 1.3540 during the Asian hours on Thursday.
Market participants are closely watching the upcoming US Producer Price Index (PPI) data due on Thursday and Consumer Price Index (CPI) data on Friday, as these inflation reports could provide vital hints regarding the Federal Reserve’s monetary policy outlook ahead of its meeting next week.
Triggered by recent stronger US jobs data, traders have increased their bets on an interest rate hike, with the CME FedWatch Tool pricing in about 60% odds for a rate increase at the central bank’s upcoming policy meeting.
Meanwhile…
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