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The Pound Sterling (GBP) faces a sharp sell-off as uncertainty over the Bank of England’s (BoE) restrictive monetary policy stance persists due to deepening risks of a technical recession in the United Kingdom.
The Canadian Dollar (CAD) is stuck within a tight intraday range on Wednesday as broader markets pivot to focus on Thursday’s upcoming US Consumer Price Index (CPI) inflation print for December.
The Euro (EUR) pares some of its Tuesday’s losses and gains ground versus the US Dollar (USD) on Wednesday in muted trading due to investors expecting the release of the latest inflation figures in the United States (US).
The Euro (EUR) saw thin but insistent broad-market gains on Wednesday, climbing against the rest of the major currency bloc in thin markets on equally thin data, with Tuesday’s Eurozone Unemployment Rate continuing to bolster the Euro as investors shrug off bearishly cautionary statements from European Central Bank (ECB) policymakers.
The Australian Dollar (AUD) continues to gain ground, extending its gains for the third successive session on Tuesday.