• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

EUR/GBP: Downward Momentum Eases As UK Inflation Falls

By Kurt Osterberg · On April 20, 2018

In the past month, the EUR/GBP pair fell from 0.8797 to a low of 0.8619. The pair’s fall was attributed to the expectations that the UK inflation would force the BOE to start an accelerated tightening process.

However, on Wednesday, things changed after the Office of National Statistics released the CPI numbers. The numbers missed the analysts’ forecasts as the inflation measure fell to a yearly low.

The data showed that the consumer prices rose by 2.5%, which was lower than the expected 2.7%. This was the lowest level since March of last year. This was the third consecutive month of declines. In December, the CPI rose to 3.1% which led to heightened concerns about the future trends in monetary policy. In January, it dropped to 3.0% and in February, it dropped to 2.9%.

After the data was released, the EUR/GBP pair fell to 0.8620, which is the lowest level since May of last year. The decline came as investors removed the chances of a rate hike in the coming month. In fact, in a statement yesterday, Governor Mark Carney removed the probability of a rate hike in the next month’s meeting.

From these levels, there is a probability that the EUR/GBP pair will continue moving higher. Remember, in the previous months, the BOE has been vocal in its support of an aggressive rate hike process. By removing the cloud of a rate hike, there are chances that the pound weakness may persist for a while.

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

  • Finance

    NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

  • Finance

    5 NFTs Trending on Twitter Going Cheap to Invest in Now

No Comments

Leave a reply Cancel reply

Top Finance

  • 3 Best Large-Cap Blend Mutual Funds For Enticing Returns 3 Best Large-Cap Blend Mutual Funds For Enticing Returns
  • What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage
  • Hedge Funds In The US Hedge Funds In The US
  • 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement
  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce

New Posts

  • STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

    STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

    June 20, 2022
  • NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

    NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

    June 20, 2022
  • 5 NFTs Trending on Twitter Going Cheap to Invest in Now

    5 NFTs Trending on Twitter Going Cheap to Invest in Now

    June 20, 2022
  • Bill Gates – ‘NFTs & Crypto Based on Greater Fool Theory’

    Bill Gates – ‘NFTs & Crypto Based on Greater Fool Theory’

    June 20, 2022
  • Actor Seth Green Pays $300,000 to Recover his Stolen BAYC NFT

    Actor Seth Green Pays $300,000 to Recover his Stolen BAYC NFT

    June 20, 2022
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018-2021 NJCEE. All Rights Reserved.