High inflation in the UK | 24 May 2023

24 May 2023, GBP/USD

GBPUSD trading plan:

British consumer price inflation fell by less than expected to 8.7% in April from March's 10.1% and a measure of core inflation unexpectedly rose. The data are likely to reinforce expectations that the Bank of England will be forced to raise interest rates again. Core inflation, which excludes energy, food and tobacco prices, rose to 6.8% - the highest rate since March 1992. Despite the most recent fall, inflation continued to eat into the spending power of workers whose pay is rising by less. The BoE is due to announce its next decision on rates on June 22.

Investment idea: buy 1.2428 and take profit 1.2510.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus