Fed Chair Powell's job hangs by 2.3% PPI thread - traders betting 80% on August rate cut
Key Points
- The Producer Price Index dropped to 2.3%, prompting traders ...
The Producer Price Index just dropped to 2.3% and suddenly everyone's acting like Jerome Powell might need to update his LinkedIn profile. While the Fed Chair contemplates whether his morning coffee tastes different under potential Trump pressure, currency traders are having a field day with the GBP/USD and AUD/USD pairs.
The Pound's Unexpected Victory Lap
The British pound is currently strutting around at 1.3454, up 0.55% like it just discovered the secret to eternal youth. This surge comes courtesy of that softer-than-expected PPI data, which has traders placing an 80% bet on an August...
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