Forex Trading News: UK CPI Released Higher Than Expected
Posted by Mr. Danish FX on Tue, 08/12/2008 - 3:36am in
The UK CPI came out at a high 4.4% from the previous 3.8%. This was forecast for a rise to 4.1%.
The Core CPI also came out above expectation at 1.9% from the previous 1.6%. This was forecast at 1.7%
We saw the GBP initially make strong positive move across the board and firm up. This knee-jerk reaction reversed very quickly as the GBP was dragged down lower than the levels before the release.
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