The Dollar was stronger after U.S. inflation beat expectations in August, with the important core CPI inflation reading hitting 0.3% m/m, beating consensus expectations of 0.2%.
Dollar's Verdict is Harris Won the Debate
- Category: USD
The Pound to Dollar exchange rate (GBP/USD) trades higher in midweek trade, with some analysts attributing a weaker USD to a strong showing by U.S. Presidential Candidate Kamala Harris.
We forecast further losses for the Pound against the Dollar in the coming week, but we think downside will be limited to 1.3036.
The Dollar fell after a softer-than-expected U.S. labour market report raised the odds of a 50 basis point interest rate hike at the Federal Reserve on September 18.