The Great Britain pound was falling at the start of today’s trading session but bounced after the release of inflation data, rising above the opening level.
Britain’s Consumer Price Index fell 0.1 percent in October from a year ago, the same as in September and in line with expectations. Yet the core components of the indicator actually climbed 1.1 percent. It is important to note that the Bank of England pays more attention to the main number, not the core one, meaning that chances for an interest rate hike are slim as consumer prices remained in deflation.
GBP/USD edged up from 1.5199 to 1.5210 as of 13:21 GMT today after falling to 1.5154 earlier. GBP/JPY was up from 187.19 to 187.40 following the drop to 186.85.
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