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The risks of more persistent UK inflation

The risks of more persistent UK inflation | 23 August 2022

23 August 2022, GBP/USD

The risks of more persistent UK inflation

GBPUSD trading plan:

British consumer price inflation is set to peak at 18.6% in January, more than nine times the Bank of England's target. The front-runner to become Britain's next prime minister, Liz Truss, is likely to come up with measures to support households hit by surging energy prices, which might slightly lower the peak rate of inflation. Energy regulator Ofgem is due to set out new maximum tariffs for households on Friday, which will take effect in October. With inflation now set to peak substantially higher, the BoE's Monetary Policy Committee was likely to conclude that the risks of more persistent inflation had intensified.

Investment idea: sell 1.1785 and take profit 1.1722.

David Johnson
Analyst of «FreshForex» company
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