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British inflation surged to its highest in more than 10 years

British inflation surged to its highest in more than 10 years | 16 December 2021

16 December 2021, GBP/USD

British inflation surged to its highest in more than 10 years

GBPUSD trading plan:

British inflation surged to its highest in more than 10 years in November, jumping to 5.1%. Price pressure from a broad range of consumer goods and services - but especially petrol, clothing and footwear. Inflation has soared globally this year due to higher energy prices and COVID-related supply-chain bottlenecks. In Britain, post-Brexit trade and migration barriers have also caused problems. The BoE has said interest rates will almost certainly need to rise to bring down inflation pressures, but held off on a widely expected move last month due to uncertainty about the impact of the end of the government's job furlough programme. This is a positive signal for the British currency!

Investment idea: buy 1.3239 and take profit 1.3305.

David Johnson
Analyst of «FreshForex» company
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