UK CPI comment
|The latest inflation data from the UK has come in slightly lower than expected, with a 2.6% year-on-year rise in CPI. Whilst this is below both the consensus estimate and prior reading it still far exceeds the Bank of England’s 2% threshold. Furthermore, with the most recent wage data indicating a 2% rise in annualised terms, real earnings remain squeezed. The reaction in GBP has been a swift drop of around 50 pips against the US dollar, after the cross printed a 9 month high earlier this morning, albeit more due to weakness in the buck rather than broad sterling strength.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.