The British Pound traded sideways against the US Dollar, following the UK CPI data release on Wednesday at 06:00 GMT. The EUR/USD exchange currency rate gained 5 pips or 0.04% after the release. The Pound continued trading at the 1.2240 level against the Greenback after the release.
The Office for National Statistics released the UK CPI data, which came out worse-than-expected of 0.8% compared with the forecast of 0.9%.
According to the official release: "The largest contribution to the CPIH 12-month inflation rate in April 2020 came from recreation and culture (0.31 percentage points). Falling energy and fuel pump prices resulted in the largest downward contributions to the change in the CPIH 12-month inflation rate between March and April 2020. Rising prices for recreational goods resulted in a partially offsetting upward contribution to change."
| Date | 15.01.20 | 19.02.20 | 25.03.20 | 22.04.20 | 20.05.20 |
|---|---|---|---|---|---|
| Actual | 1.3% | 1.8% | 1.7% | 1.5% | 0.8% |
| Forecast | 1.5% | 1.6% | 1.7% | 1.5% | 0.9% |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/GBP | 0.89255 | 0.89235 | -0.02% |
| GBP/CAD | 1.70784 | 1.70838 | 0.03% |
| GBP/JPY | 132.14900 | 132.181 | 0.02% |
| GBP/USD | 1.22646 | 1.22666 | 0.02% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/GBP | 25.6% | 74.4% |
| GBP/CAD | 44.8% | 55.2% |
| GBP/JPY | 65.6% | 34.4% |
| GBP/USD | 51.8% | 48.3% |
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