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Jan 15 - 02:55 AM

GBP/USD - Dips On Softer Than Expected UK Inflation Data

By Robert Howard  —  Jan 15 - 02:21 AM

• Cable dips to 1.2155 intra-day low on cooler than expected UK inflation data

• UK Dec CPI 2.5% YY vs 2.6% forecast. Services CPI 4.4% vs 4.9% forecast

• 1.2193 was Asia low (pre-UK CPI). 1.2140 was Tuesday low, pre-US PPI data

• Softer UK inflation data increases likelihood of BoE rate cut in February

• US CPI data due at 1330 GMT: 0.3% MM, 2.9% YY f/c; core f/c 0.2% MM, 3.3% YY

• GBP/USD might drop towards 1.2100 (14-month low Monday) if US CPI above f/c

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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