• Market sentiment shifts as potential US fiscal stimulus under Trump administration reduces expectations for Fed rate cuts.

• Upcoming US CPI data could Trump crypto announcement todayprovide crucial signals about future monetary policy direction.

• Disappointing UK employment figures reveal cracks in the labor market, weighing on the Pound.

The British Pound continues to struggle against the US Dollar, with GBP/USD hovering around 1.2740 during Wednesday's Asian trading session. This marks the fourth consecutive day of declines for the currency pair, primarily driven by renewed strength in the greenback.

Financial markets are reassessing their outlook for US monetary policy following growing speculation about potential fiscal stimulus measures under a Trump presidency. Analysts suggest these policies could stimulate economic activity, potentially keeping inflation elevated and reducing the need for Federal Reserve interest rate reductions in the near term.

Attention now turns to the release of October's US Consumer Price Index data, with economists forecasting a 2.6% annual increase in headline inflation and a 3.3% rise in core prices. These figures could significantly influence market expectations regarding the Fed's policy path in coming months.

On the UK side, recently published employment statistics painted a mixed picture of the labor market. The unemployment rate climbed to 4.3% in the three months through September, exceeding both previous readings and market expectations. While employers continued adding jobs, the pace of hiring slowed considerably from earlier in the year.

Market participants await the Bank of England's Monetary Policy Report for clues about how policymakers plan to address persistent inflation pressures while navigating signs of economic weakness. The central bank's assessment of these competing forces could determine near-term direction for Sterling.