Intra-day Market Moving News and Views
13 Oct 2015 09:00GMT
GBP/USD - ...... Although cable edged higher in Asia n briefly rose above last Friday's 1.5382 high to a fresh 3-week peak at 1.5388 in European morning, lack of follow-through buying prompted long-liquidation.
Price later tumbled to 1.5283 and then lower to 1.5240 after data showed that consumer price inflation in the U.K. fell into negative territory in Sept.
The U.K. Office for National Statistics said on Tuesday the rate of consumer price inflation in U.K. fell to a seasonally adjusted -0.1% last month, from 0.0% in August Market had expected a flat reading in September.
Meanwhile, month-over-month, consumer price inflation declined -0.1% in Sep, compared to estimates for a flat reading and following a gain of 0.2% in Aug. Separately, core CPI, which excludes food, energy, alcohol, and tobacco costs rose at a seasonally adjusted rate of 1.0% last month, unchanged from Aug and compared to forecasts for a reading of 1.1%.
At present, offers are reported at 1.5270-80 and then 1.5300-10 with mixture of offers and stops in the region of 1.5340-60.
On the downside, bids are noted at 1.5220-10 and around 1.5200 with stops just below 1.5180.
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