Sterling hovers around 5-1/2 year low, UK CPI in focus
Intraday bias remains on the downside. Current fall should target 1.3503 low but before that initial support levels fall at $1.4226 levels. On the upside, above 1.4444 minor resistance levels will turn bias neutral and b…
Current fall should target 1.3503 low but before that initial support levels fall at $1.4226 levels.
On the upside, above 1.4444 minor resistance levels will turn bias neutral and bring consolidations before staging another fall.
A major focus today is UK inflation data. CPI is expected to rise to 0.2% yoy in December while core CPI is expected to be unchanged at 1.2% yoy. PPI will also be featured in UK today. Any downside surprise could give sterling much pressure against Euro, yen and dollar.
