14 April 2023, GBP/USD
GBPUSD trading plan:
The U.S. dollar tumbled to a one-year low, as traders ramped up expectations of an imminent end to the U.S. Federal Reserve's rate-hike cycle on signs of cooling inflation. Data from the U.S. Labor Department showed the producer price index fell by the most in nearly three years last month, coming a day after inflation data pointed to moderation in consumer prices. Money markets are pricing in a 69% chance the Fed will raise interest rates by 25 basis points next month, though a series of cuts are also being priced in from July through to the end of the year, with rates seen just above 4.3% in December.
Investment idea: buy 1.2500 and take profit 1.2570.
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