GBP Remains Heavy After Mixed UK CPI Data – BBH
Brown Brothers Harriman notes the British Pound is heavy versus USD and EUR after a mixed UK June CPI report, with headline inflation cooling but core and services measures staying elevated.
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The British Pound (GBP) continues to trade heavily against the US Dollar (USD) and Euro (EUR) following the release of mixed UK June Consumer Price Index (CPI) data.
According to Brown Brothers Harriman (BBH) analyst Elias Haddad, the headline inflation rate cooled, but core and services inflation measures remained elevated, keeping pressure on the currency.
No explicit policy implications were stated, but the mixed data leaves the Bank of England’s next move uncertain, weighing on GBP sentiment.
Source: FXStreet Forex News