Inflation exceeded expectations in England, adding value to sterling

in UK in June inflation exceeding expectations, especially sterling against the euro led to a price gain.

In June, after consumer prices increased by 2.5 percent compared to the same period last year, exceeding the expectations of 2.2 percent. EURGBP hit 0.8516, the lowest level in the last 14 weeks. It is currently trading at 0.8520 with a loss of 0.08 percent compared to yesterday. GBPUSD is at the level of 1.3845 with an increase of 0.22 percent compared to yesterday.

The fact that the inflation is above expectations has strengthened the hands of those who argue that a rate hike will come from the BoE in the first half of 2022.

-Foreks News Center-

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