UK inflation boosts GBP decline

Source: Dukascopy Bank SA


The Pound's value was steadily declining on October 19 morning, as at 06:00 GMT the UK Consumer Price Inflation data was published. It was revealed that year-on-year basis inflation in September in the United Kingdom had reached 10.10%. The markets expected inflation to be at 10.00%.

The GBP/USD reacted to the news with a 33 base point or 0.29% drop over a period of five minutes. Afterwards, the decline continued, as the pair almost reached the 1.1220 level.

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