21 June 2023, GBP/USD
GBPUSD trading plan:
Pandemic-related snarls in global supply chains have mostly receded, but their after-effects still account for a big chunk of excess U.S. inflation, an analysis published by the San Francisco Federal Reserve Bank showed. Supply shortages from supply chain disruptions drove most of the upswing in inflation since April 2021, and the easing of those disruptions since mid-2022 has contributed to the slowdown in inflation since then, the paper showed. The Fed's target for inflation, as measured by the personal consumption expenditures price index, is 2%. A year ago, inflation by that measure reached a peak of 7%, and supply shock pressures contributed about 2.5 percentage points of that, according to the paper. As of March, PCE inflation had fallen to 4.2%, of which supply shocks accounted for around 1.4 percentage points.
Investment idea: range 1.2737 -1.2840
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