The Pound is being sold. Overview for 18.04.2018
GBPUSD is falling on Wednesday afternoon after the United Kingdom reported on the inflation.
In the middle of the week, the British Pound is falling rather significantly against the USD. The current quote for the instrument is 1.4186.
The United Kingdom reported on the Consumer Price Index and several related indicators. The Core Inflation Rate in the country increased up to 2.3% y/y in March after being 2.4% y/y the month before and against the expected reading of 2.5% y/y. The Inflation Rate over the same period of time was 2.5% y/y, which is less than the expected number of 2.7% y/y.
The Producer Price Index Input decreased by 0.1% m/m in March after losing 1.1% m/m in the previous month and against the expected reading of +0.3% m/m. The PPI Output added 0.2% m/m, although it was expected to expand by 0.1% m/m.
The statistics turned out to be very negative for the Pound. The inflation is obviously slowing down: the CPI started falling in February and continued this tendency in March. It means that the Bank of England may keep the benchmark rate unchanged for a while, because there are no strong reasons to revise the rate in order to control the inflation.
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