The Pound lifted in spirits. Overview for 21.10.2020
GBPUSD is rising pretty well in the middle of the week influenced by stable statistics.
The British Pound is growing significantly against the USD on Wednesday. The current quote for the instrument is 1.3025.
The statistics published today showed that the CPI in the United Kingdom was 0.4% y/y in September against the expected reading of 0.5% y/y. The Core CPI showed 0.6% y/y against market expectations of 1.3% y/y over the same period of time.
The published data indicates that deflation is retreating but still there are other problems. One of them is Brexit talks, which have always been quite complicated. When it comes to the trade agreement, the policy lobbied by Boris Johnson’s cabinet is clearly against the European Union interests. On the other hand, the alliance is sick and tired of constant failures in negotiations and may concede but not in everything.
There hasn’t been any decision relating to the Irish border yet and that makes the Pound investors rather upset.
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