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GBP/USD. What UK CPI report says?
Conflicting inflation data in the United
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Conflicting inflation data in the United Kingdom pressured the British currency. Although many components of the release printed in the green, traders interpreted the result as unfavorable for sterling, and GBP/USD fell into the 34-figure area. While the price decline largely reflected greenback strength, the release confirmed the pound's vulnerability and intensified pressure on the pair; the market read the published numbers as signs of stagflation. Thus, according to the published data, the headline consumer price index rose 0.7% month-on-month in
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Irina Manzenko,
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