GBP – Sterling came under pressure on Wednesday as UK CPI once again hit double digits and 40-year highs at 10.1% Y/Y for September.
The stronger than expected report reignited concerns surrounding the severity of the UK’s impending economic decline, with Ebury summarizing: “The outlook for the UK economy remains relatively murky, with ballooning borrowing costs, soaring consumer prices and a government in chaos with its credibility shot to bits unlikely to inspire much confidence.”
The stronger than expected report reignited concerns surrounding the severity of the UK’s impending economic decline, with Ebury summarizing: “The outlook for the UK economy remains relatively murky, with ballooning borrowing costs, soaring consumer prices and a government in chaos with its credibility shot to bits unlikely to inspire much confidence.”
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.