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May 18 - 03:55 AM

GBP/USD - Dips On 9% UK CPI, Fraction Below Forecast

By Rob Howard  —  May 18 - 02:30 AM
  • Cable falls to 1.2464 after UK April CPI comes in slightly below forecast

  • 9.0% YY vs 9.1% f/c, 40-year high nL5N2XA17N. 1.2501 was Asia high

  • 1.2501 = high since May 5 (when GBP slumped on BoE's UK recession warning)

  • 1.2498 was Tuesday's high, after GBP jumped on strong UK jobs/earnings data

  • See: nL5N2X91BH. Retreat from 1.2498 based just shy of 1.2450

  • Situation in N.Ireland is of grave concern - Truss nS8N2W402InL5N2X932J

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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