POUND REMAINS CAPPED BELOW $1.26; UK CONSUMER INFLATION EXPECTATIONS EASE

Published on Dec 08, 2023 16:35

UK pound stays capped below $1.26 mark on Friday as dollar continues to rule ahead of US non farms data due later in the global day. The dollar index is holding at 103.68, up 0.17% on the day as investor await cues from US jobs data that could provide further clarity on Federal Reserve rate stance. Meanwhile, UK public inflation expectations are seen at 3.3% in November, down from a 3.6% figure estimated in August, the quarterly survey conducted by the Bank of England (BoE) showed on Friday. Pound lost traction post the data and the GBPUSD pair is seen trading at $1.2583, down 0.08% on the day. On the NSE, GBPINR futures lost intraday gains and slipped back below 105 mark to 104.92.