The British Pound traded sideways against the US Dollar, following the UK CPI data release on Wednesday at 06:00 GMT. The GBP/USD exchange currency rate gained 1 pips or 0.01% after the release. The Pound continued trading at the 1.2950 level against the Greenback after the release.
The Office for National Statistics released the UK CPI data, which came out better-than-expected of 0.2% compared with the forecast of 0.1%
According to the official release: "As the restrictions caused by the ongoing coronavirus (COVID-19) pandemic have been eased, the number of CPIH items that were unavailable to UK consumers in August has reduced to eight; these account for 1.1% of the CPIH basket by weight and made a small downward contribution of 0.01 percentage points to the change in the CPIH 12-month rate; the number of unavailable items is down from 12 for July and a high of 90 for April; for August, we have collected a weighted total of 86.9% of comparable coverage collected previously (excluding unavailable items)."
| Date | 20.05.20 | 17.06.20 | 15.07.20 | 19.08.20 | 16.09.20 |
|---|---|---|---|---|---|
| Actual | 0.8% | 0.5% | 0.6% | 1.0% | 0.2% |
| Forecast | 0.9% | 0.5% | 0.4% | 0.6% | 0.1% |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/GBP | 0.91888 | 0.91851 | -0.04% |
| GBP/CAD | 1.69962 | 1.7002 | 0.03% |
| GBP/JPY | 135.85600 | 135.848 | -0.01% |
| GBP/USD | 1.28944 | 1.28979 | 0.03% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/GBP | 31.5% | 68.5% |
| GBP/CAD | 72.6% | 27.4% |
| GBP/JPY | 49.6% | 50.4% |
| GBP/USD | 51.5% | 48.5% |
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