GBP/USD forecast ahead of UK and US inflation data
2025-07-13 06:48:43
Main Idea
The GBP/USD exchange rate has dropped sharply due to a rebound in the US Dollar Index (DXY) and rising US bond yields, with upcoming UK and US inflation data expected to be key catalysts for future movements.
Key Points
1. The GBP/USD exchange rate fell to 1.3490, its lowest since June 23, dropping over 2.17% from its recent high.
2. The US Dollar Index (DXY) rose to $97.86, driven by strong US jobs data showing 147k jobs added in June and a drop in unemployment to 4.1%.
3. US 10-year bond yields surged to 4.417%, the highest since June 20, contributing to the dollar's strength.
4. Upcoming US and UK CPI data will be critical for the GBP/USD pair, with expectations of modest inflation increases in June.
5. The GBP/USD remains above key moving averages (50-day and 100-day EMA), suggesting potential for further declines before resuming an uptrend.
Description
The British pound has plunged in the past few days as the recent bullish momentum faded. The GBP/USD exchange rate dropped to a low of 1.3490, its lowest level since June 23. It has plunged by over 2.17% from its highest point this year. US Dollar Index rises The GBP/USD exchange rate has plunged in the past few days as the US Dollar Index (DXY) bounced back. Data shows that the DXY Index rose to $97.86 on Friday, up sharply from the year-to-date low of $96.35. The dollar index’s surge has coinc...
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