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Dec 15 - 06:55 AM

GBP/USD - Buoyed By Hot UK CPI Data Pre-BoE Rate Decision

By Rob Howard  —  Dec 15 - 04:53 AM
  • Cable climbs to 1.3282 on hawkish shift in BoE expectations after hot UK CPI

  • 1.3282 = highest level since Dec 7 (1.3289 was the high that day)

  • UK Nov CPI +5.1% YY vs 4.7% Reuters poll forecast nL8N2T018X

  • Latest Refinitiv estimate suggests 63% chance of 15 bps BoE hike Thursday

  • This is up from 47% chance at Tuesday close (estimates based on I/R futures)

  • After stinging revolt, Shapps defends UK PM's record on COVID nL8N2T01KV

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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