British inflation gathered speed in December | 21 January 2021

21 January 2021, GBP/USD

British inflation gathered speed in December

GBPUSD trading plan:

British inflation gathered speed in December. Consumer prices rose 0.6% in annual terms after a 0.3% increase in November, the Office for National Statistics said. A temporary easing of COVID-19 travel restrictions helped to push up air and sea fares while a rise in global oil prices made fuel more expensive and the price of clothes also rose. Prices at petrol pumps rose by 1.5 pence per litre. Clothing and footwear prices - which rose last month, unlike in December 2019 - also contributed to higher inflation. The inflation is likely to rise to close to the BoE's 2% target by the end of this year. This is a positive signal for the British currency.

Investment idea: Buy 1.3680 and take profit 1.3731.

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David Johnson
Analyst of «FreshForex» company
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