Yesterday, the pound jumped after the UK CPIs unexpectedly accelerated, but came under selling interest a couple of hours thereafter following reports that UK PM May rejected Barnier’s updated proposal on the Irish border. As for today, the SNB and the Norges Bank decide on interest rates.
Pound Jumps on CPIs, Falls on Brexit Headlines
The pound traded lower or unchanged against all but one of the other G10 currencies on Wednesday. It gained only against CHF, while it underperformed the most against NZD, SEK and CAD in that order. The British currency traded virtually unchanged against USD, EUR and NOK. The Kiwi was the biggest gainer as it jumped on New Zealand’s better than expected GDP data for Q2.
Sterling had a rollercoaster ride yesterday. During the European morning, the currency gained after data showed that UK inflation unexpectedly accelerated in August, in both headline and core terms. The headline CPI rate rose to...
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