GBP: Upcoming Inflation Data May Dent Bullish Uptrend

UK Economic Data Releases on Tuesday, January 16, 2018.

I will be taking a more in-depth look at the upcoming UK data releases at 11:30 GMT on Monday, January 15, 2018.

The British Pound remains strong against an admittedly weak US dollar and has pushed back up above 1.3600 and back towards levels last seen on Brexit day in 2016. Sterling has taken the recent, messy, UK cabinet re-shuffle in its stride while Brexit talk is, for the moment, no longer such a political risk as it was seen to be last year.

The pair have been aided by fears that the US dollar may not get the Trump tax plan uplift that investors first thought and that with US inflation still below target, the expected three US interest rate hikes in 2018 may be pushed back along the calendar.

GBP/USD Price Chart Daily Timeframe (March 30, 2017 – January 12, 2018)

— Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

Article Source

Добавить комментарий

Яндекс.Метрика