During Thursday European hours, GBP/USD recovered earlier losses as investors prioritized easing Fed rate‑hike risks over Middle East tensions. Traders trimmed Fed tightening bets after US inflation upside risks eased and labor market downside risks rose; July US CPI broadly matched expectations — core inflation remains above the Fed’s target but showed no broad re‑acceleration, giving policymakers more room to pause. Market focus shifts to US July PPI due Thu 20:30 Beijing time, with headline/c

During Thursday European hours, GBP/USD recovered earlier losses as investors prioritized easing Fed rate‑hike risks over Middle East tensions. Traders trimmed Fed tightening bets after US inflation upside risks eased and labor market downside risks rose; July US CPI broadly matched expectations — core inflation remains above the Fed’s target but showed no broad re‑acceleration, giving policymakers more room to pause. Market focus shifts to US July PPI due Thu 20:30 Beijing time, with headline/core YoY forecasts at 4.9% and 4.2%. GBP’s rebound was also supported by stronger‑than‑expected UK Q2 GDP, which attracted buyers.