The Sterling weakened against the US Dollar on the row of mixed economic data releases for Britain on Tuesday. The GBP/USD currency pair lost 22 base points or 0.16% to fall slightly ahead of entering the resistance zone near the 1.3825 level.
The UK inflation eased slightly from its post-Brexit record high in December, official report revealed, indicating that the financial squeeze on households is likely to weaken. Britain's consumer price inflation declined to a yearly rate of 3.0% in December from almost six-year high registered in the previous month. The BoE anticipated inflation to fall gradually over the next two to three years to the 2% target, while many economists revealed expectations for a faster decline in a year.
| Historical Data Table: UK CPI y/y | Economic Calendar for 17.01.2017 | ||||||||
| Date | 12.09.2017 | 17.10.2017 | 14.11.2017 | 12.12.2017 | 16.01.2018 | 10:00 AM | EU Final CPI y/y | ||
| Actual | 2.9% | 3.0% | 3.0% | 3.1% | 3.0% | 3:00 PM | BoC Interest Rate Decision | ||
| Forecast | 2.8% | 3.0% | 3.1% | 3.1% | 3.0% | 4:15 PM | BoC Press Conference | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.37838 | 1.37617 | -0.16% | GBP/USD | 46.11% | 53.89% | |||
| EUR/GBP | 0.88728 | 0.88846 | 0.13% | EUR/GBP | 35.31% | 64.69% | |||
| GBP/CAD | 1.71377 | 1.71123 | -0.15% | GBP/CAD | 58.94% | 41.06% | |||
| GBP/JPY | 152.619 | 152.37 | -0.16% | GBP/JPY | 30.09% | 69.91% | |||