Positive macroeconomic statistics from the UK will have a positive impact on the value of the pound sterling. Britain’s inflation rate unexpectedly overshot the Bank of England’s 2% target – annual consumer price inflation rose to a three-month high of 2.1% in July from 2.0% in June. Earlier this month the BoE predicted consumer price inflation would fall to a three-year low below 1.6% in the final quarter of this year. The Bank of England will not down interest rates in September. This is a positive signal for the British currency!
Trading recommendation: Buy 1.2039 and take profit 1.2088.
Origin: FreshForex
