- Analytics
- News and Tools
- Market News
- GBP/USD: Inflation data not enough to carry pound - MUFG
GBP/USD: Inflation data not enough to carry pound - MUFG
MUFG Research discusses GBP outlook in light of yesterday' UK inflation data for the month of July.
"The pound was carried only briefly yesterday on the back of UK inflation data that surprised on the upside. Core CPI data surprised on the upside, coming in at 1.9% over an expected 1.8%. Headline CPI was similarly higher at 2.1%, over expectations of 1.9%. This was enough to drive the pound higher against the dollar, testing a ceiling around the 1.2100 level for the third day in a row on a data surprise. However it will likely prove insufficient to support the pound much above the 1.2050 level. This data further muddies the water for the BoE when it comes to the domestic economy in the UK," MUFG adds.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
