We’re already seeing sterling coming under pressure this morning ahead of today’s CPI figure which is due to come in at 1.6% Year-on-Year, a decline from last month’s 1.7% and in line with the Bank of England’s forecast. We should see the Month-on-Month number decline from 0.5% to 0.2% with transportation prices likely to be the biggest contributor to the decline once again. When you look at petrol prices a year ago, they were over 10p a litre higher than they are today, every month so far this year has seen roughly 1p shaved off the average and luckily for drivers the Chancellor has avoided hiking fuel duty. This means there’s a chance we could see CPI come in lower than the 1.6% that’s expected and the weakness in GBPUSD looks like traders positioning themselves for such an outcome. GBPUSD has hit a low of 1.6686 this morning and is trading just above there at the time of writing so a weaker CPI could see an extended move lower, but anything around expectations could lead to an unwinding of that weakness. Later today Janet Yellen will be speaking in New York giving her latest thoughts on the world’s biggest economy and the Fed’s approach to monetary policy. Her communication of policy has been somewhat mixed so far and certainly requires honing after the knee-jerk reaction from markets when she said rate hikes will come 6 months after tapering ends. Regardless, the threat of increased volatility in FX markets this afternoon is high, as investors continue to wonder when the consensus view of dollar strength will materialise. Further reading: UK inflation slides to 1.6% as expected – GBP/USD bounces back up EUR/USD April 15 – Dips below 1.38 ahead of key German figure, Yellen FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next German ZEW falls to 43.2 points – EUR/USD pressured Yohay Elam 8 years We're already seeing sterling coming under pressure this morning ahead of today's CPI figure which is due to come in at 1.6% Year-on-Year, a decline from last month's 1.7% and in line with the Bank of England's forecast. We should see the Month-on-Month number decline from 0.5% to 0.2% with transportation prices likely to be the biggest contributor to the decline once again. When you look at petrol prices a year ago, they were over 10p a litre higher than they are today, every month so far this year has seen roughly 1p shaved off the average and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.