Free Trial

Stronger Than Expected UK CPI Fuels Underlying Sterling Buoyancy

GBP
MNI (London)
  • Market reacts mildly positive to the release of UK CPI, coming in at 0.7%yy, flat on the month.
  • GBP/USD had dipped to $1.3257 in pre release trade, edging back to $1.3267 in react, though momentum not enough to bring pressure to bear on its intraday high of $1.3270, with Tuesday's high of $1.3272 lingering close behind,
  • A break to expose $1.3300 ahead of $1.3312(Nov11 high).
  • Sterling buoyant on the back of Brexit trade agreement talk but needs this to be confirmed to provide stronger upside breakout momentum. Market aware that over optimism can lead to disappointment.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.