GBPUSD gains after stronger-than-expected UK CPI data

UK CPI (M/M) March: 0.8% (exp 0.5%; previous 1.1%)

UK CPI (y/y) March: 10.1% (exp. 9.8%; prev 10.4%)

UK CPI Core (m/m) March: 0.9% (exp. 0.6%; prev 1.2%)

UK CPI Core (y/y) March: 6.2% (exp. 6.0%; prev. 6.2%)

Details of today’s inflation report. High inflation in the UK is due to food prices. That would prompt the BoE to hike another 25 basis points. Source: ONS

Currency pair GBPUSD UK inflation data rose sharply for a while. Source: xStation5 by XTB

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