Pound Down as Inflation Misses Expectations

The Great Britain pound slipped against its major rivals as inflation data disappointed market participants, failing to reach the levels predicted by experts. Losses were limited though.
The Consumer Price Index rose 0.6% in August from a year ago, the same as in July, whereas analysts had promised a bit bigger growth by 0.7%. Most other indicators released over the trading session were below expectations as well. That led to talks that the Bank of England was right to implement monetary stimulus, meaning that the institution will not make its policy less accommodative anytime soon.
GBP/USD dropped from 1.3334 to 1.3264 as of 10:26 GMT today. GBP/JPY declined from 135.77 to 135.23.

If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

79 + = eighty three