Saturday , October 23 2021

The British pound was one day before the British inflation data for the second time



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On Wednesday, the British pound continued its second-ever return on US dollar and plunged against the currency basket on Wednesday, as it hopes for a smooth outflow from the European Union. This testifies to the possibility of a British interest rate increase in the near future.

British pound was 0.35% at 07:35 GMT, trade at $ 1.3010, opening price of $ 1.2977, highest bid $ 1.3034 and lowest $ 1.2949.

Yesterday the trades were over, the dollar rose by 1.05% and appeared on the first day in four days. Reversed stabilization against major and minor currencies, recovering from the previous two-day $ 1.2827 level.

Pound rehabilitation also supported the news that the EU has reached a preliminary agreement with the United States to avoid the anarchy from the European Union.

But now there is a difficulty for British Prime Minister Teresa Mae to approve the deal, as supporters of separation go beyond the European Union.

Investors await the UK's major data on major inflation levels in October, indicating the possibility of boosting UK interest rates in the near future.

It is expected that the annual consumer price index expected to grow by 2.5% in October will increase by 9.30% in September, and in September it is expected to increase by 2.4%, while food and fuel prices will increase by 1.9% .

The annual producer price index rose by 1.6% to 0.6% in October, up from 0.2% in September, and previous prices rose by 0.4%.

Shane VV

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