Pound Sterling fell after hot US CPI
The post Pound Sterling fell after hot US CPI appeared on BitcoinEthereumNews.com. GBP/USD lost about 0.7% on Tuesday, sliding from prior session highs near 1.3650 to test the 1.3500 round figure before a modest late-session rebound. Price recovered close to 1.3540, with the steady move lower through European and US trade leaving the pair at the lower end of its recent multi-day range. The Pound came under pressure on Tuesday as political instability in Westminster deepened, with more than 70 Labour Members of Parliament (MPs) publicly urging Prime Minister Keir Starmer to resign after heavy local election losses. UK gilts sold off across the curve, with the 30-year yield briefly touching 5.81%, its highest level since 1998, amid worries that a leadership transition could mean looser fiscal policy. Wednesday’s focus shifts to Catherine Mann at the Bank of England (BoE), the most committed hawk on the rate-setting committee, who has stated she would vote to lift the main Bank Rate if in