Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD: UK CPI
The British Pound depreciated against the US Dollar, following the UK CPI data release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate lost 26 pips or 0.20% during a minute, right after the release. The British Pound continued trading at the 1.1.3142 area.
The Office for National Statistics released UK CPI data that came out lower-than-expected of 2.4% compared with forecasted 2.6%.
The ONS commented: "The largest downward contribution came from food and non-alcoholic beverages where prices fell between August and September 2018 but rose between the same two months a year ago. Other large downward contributions came from transport, recreation and culture, and clothing. Partially offsetting upward contributions came from increases to electricity and gas prices."
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