Swing Trades: GBP/USD
|GBP/USD: UK CPI
The British Pound weakened against the Greenback, following the UK CPI data release on Wednesday. The GBP/USD currency pair lost 39 pips, or 0.29%, to continue fluctuating in the 1.3361 area.
The Office for National Statistics simultaneously released six data sets, where Consumer Price Index data came out lower-than-expected of 2.4%, compared to 2.5% in the previous period. Retail Price Index and Producer Price Index Output came out in line with economists expectations.
However, Core Consumer Price Index, House Price Index and Producer Price Index Input came out lower-than-expected, which intensified the British Pound to weaken even more.
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