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GBPUSD Rebound Vulnerable to Slowing UK Consumer Price Index (CPI)
At the same time, the core reading for inflation is anticipated to slip to 1.8% from 1.9% during the same period, and signs of slowing price growth may drag on the British Pound as it puts pressure on the Bank of England (BoE) to insulate the UK economy. In turn, the Monetary Policy Committee (MPC) may adopt a more cautious tone at the next meeting on October 19, and Governor Mark Carney show a greater willingness to switch gears in 2019 as “underlying growth appears to have slowed since 2018 to a rate below potential.” However, another unexpected pickup in the UK CPI may trigger a bullish reaction in GBPUSD as ... (full story)
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