GBP/USD falls below 1.1300 due to high UK inflation.
The UK CPI data places the BOE in a precarious position following the government's economic and political failures.
UK Finance Minister Jeremy Hunt said, "This administration will prioritize helping the most disadvantaged while ensuring wider economic stability and promoting long-term growth that will benefit everyone," following the release of the inflation numbers on Wednesday.
Separately, the country's foreign minister, James Cleverly, said that "another leadership challenge will not assist financial markets keep calm."
Experts at ING predict that the pair may drop below the 1.10 level.
Technically if price breaks above the 1.14-1.15 zone(VERIFIED RESISTANCE) the bulls will now be in control hence we shall look to go long
UK Finance Minister Jeremy Hunt said, "This administration will prioritize helping the most disadvantaged while ensuring wider economic stability and promoting long-term growth that will benefit everyone," following the release of the inflation numbers on Wednesday.
Separately, the country's foreign minister, James Cleverly, said that "another leadership challenge will not assist financial markets keep calm."
Experts at ING predict that the pair may drop below the 1.10 level.
Technically if price breaks above the 1.14-1.15 zone(VERIFIED RESISTANCE) the bulls will now be in control hence we shall look to go long
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