The British Pound weakened further against the US dollar as the latest inflation reports dampened sentiments ahead of the BoE rate decision. Details of the report showed annual CPI eased to 6.7% from 6.8% while core CPI Y/Y eased to 6.2% from 6.9%. while this looks like a win in the battle to tame inflation, the uptick in PPI data could be a concern for the BOE as the high cost of production ends up being passed on to consumers coupled with soaring energy prices. 
GBPUSD has been left exposed towards 1.2300 as it tries to recoup some losses ahead of the Fed decision later in the day.
GBPUSD has been left exposed towards 1.2300 as it tries to recoup some losses ahead of the Fed decision later in the day.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.