The British pound appreciated against the US Dollar, following the United Kingdom CPI data release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate gained 39 pips or 0.30% during a minute, right after the release. The rate continued trading at the 1.3181 level.
The Office for National Statistics released United Kingdom CPI data that came out better-than-expected of 2.7%, compared to forecasted 2.4%. The CPI data release is considered the UK's most important inflation data because it's used as the central bank's inflation target.
Mike Hardie, the ONS' head of inflation said in a statement :"Consumers paid more for theatre shows, sea fares and new season autumn clothing last month. However, mobile phone charges, and furniture and household goods had a downward effect on inflation," .
| Historical Data Table: CPI y/y | Economic Calendar for 21.09.2018 | ||||||||
| Date | 23.05.2018 | 13.06.2018 | 18.07.2018 | 15.08.2018 | 19.09.2018 | 8:30 AM | UK Public Sector Net Borrowing | ||
| Actual | 2.40% | 2.40% | 2.40% | 2.50% | 2.70% | 12:30 PM | CAD CPI m/m | ||
| Forecast | 2.50% | 2.40% | 2.60% | 2.50% | 2.40% | 12:30 PM | CAD Core Retail Sales m/m | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.31631 | 1.32041 | 0.31% | GBP/USD | 44.60% | 55.40% | |||
| EUR/GBP | 0.88908 | 0.88678 | -0.26% | EUR/GBP | 25.39% | 74.61% | |||
| GBP/CAD | 1.70429 | 1.70973 | 0.32% | GBP/CAD | 65.77% | 34.23% | |||
| GBP/JPY | 147.938 | 148.438 | 0.34% | GBP/JPY | 39.78% | 60.22% | |||