FXTM information and reviews
FXTM
95%
OctaFX information and reviews
OctaFX
94%
XM information and reviews
XM
93%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
91%
HFM information and reviews
HFM
89%

The Pound hasn’t got any strengths left.


17 August 2022

GBPUSD remains under slight pressure on Wednesday after the United Kingdom released numbers on inflation. The Pound Sterling is slowly falling against the USD. The current quote for the instrument is 1.2114. The British CPI skyrocketed in July and reached 10.1% y/y after being 9.4% y/y in June and against the expected reading of 9.8% y/y. The Core CPI went from 5.8% y/y to 6.2% y/y.

The RPI rose to 12.3% y/y after being 11.8% y/y the month before. The PPI Input/Output gained 0.1% m/m and 1.6% m/m.

Prices are becoming a real problem for the United Kingdom. The Bank of England is highly unlikely to follow the US Fed’s example and start raising the benchmark interest rate aggressively. Market players should expect the British regulator to stick to a classic conservative approach and raise the rate slowly. Of course, it won’t help to solve the inflation issue. In this light, the GBP may find itself in a risk zone.

#source

Share: Tweet this or Share on Facebook


Related

GBP/USD could retest the 1.2450 area
GBP/USD could retest the 1.2450 area

In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD could still advance to the 1.2450 zone in the next few weeks...

27 Jan 2023

Bulls retreat from fresh seven-month high near 1.2450 inside rising wedge
Bulls retreat from fresh seven-month high near 1.2450 inside rising wedge

GBP/USD pares intraday gains after refreshing multi-day top. Overbought RSI, six-week-old horizontal hurdle challenge Cable buyers. 21-SMA adds strength to 1.2365...

23 Jan 2023

GBP is doing good
GBP is doing good

The British Pound against the US dollar on Wednesday is ready to keep growing. The current quote is 1.2286. So, Britain presented the first block of interesting macro statistics...

19 Jan 2023

GBP depending on good news
GBP depending on good news

On Tuesday, the British pound against the US dollar remains neutral. The current quote is 1.2194. This week, Great Britain will be very active on the macroeconomic calendar...

18 Jan 2023

UK banks favor inflationary measures over GBP Price
UK banks favor inflationary measures over GBP Price

Currencies are sensitive and affected by everything from war to weather, politics to pandemics. Forecasting a major currency usually takes time...

16 Jan 2023

GBP remains balanced
GBP remains balanced

British pound against the US dollar remains neutral. The current quote is 1.2147. According to BRC, retail sales in Britain in December grew by 6.5% y/y...

13 Jan 2023


FXCM information and reviews
FXCM
87%
ActivTrades information and reviews
ActivTrades
86%
RoboForex information and reviews
RoboForex
85%
MultiBank Group information and reviews
MultiBank Group
84%
Libertex information and reviews
Libertex
83%
Vantage information and reviews
Vantage
83%

© 2006-2023 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.