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The BoE has been left in a difficult spot

The BoE has been left in a difficult spot | 15 December 2022

15 December 2022, GBP/USD

The BoE has been left in a difficult spot

GBPUSD trading plan:

British inflation fell more than expected in November after it hit a 41-year high in October, raising hopes that the price surge has peaked and offering some comfort to the Bank of England as it prepares to raise interest rates again. The United States and the euro zone have also reported larger-than-expected drops in inflation for November. Like other central banks, the BoE is battling inflation that is far above its 2% target and it has raised rates sharply over the past 12 months, including a three-quarter-point rate rise in November, its biggest in over 30 years. Unfortunately for the UK, the economy is being hit by U.S.-style wage pressures and a European-style energy crisis, all at the same time.

Investment idea: range 1.2330 – 1.2440.

David Johnson
Analyst of «FreshForex» company
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