Wed, 15 Dec 2021 08:45:42 GMT
UK inflation causes rate spikes
On Wednesday, at 07:00 GMT, the UK Inflation data was published. The event caused a spike in the value of the GBP. However, the currency almost immediately returned to previous levels.
For example, the GBP/USD jumped and retraced back by 22 base points or 0.16% in less than five minutes.
The year-on-year UK Consumer Price Index results came in at 5.1%