Prices are rising at a faster clip than expected. Month over month, headline CPI rose by 0.3%, above 0.2% expected. Year over year, the advance is already 2.9% in May, also beyond 2.7% projected. It is not only energy. Core CPI follows through to 2.6%, above 2.4% expected. These are the highest levels since 2012. The Bank of England now has a tougher dilemma. They can raise rates in order to push the pound higher and lower the prices of imported goods. However, raising interest rates also means cooling demand. And this is not a good time to curb demand. The pound is still reeling from the indecisive UK elections. The political scene is quite messy, with Theresa May’s political future in peril. GBP/USD is bouncing from the lows, hitting the 1.27 line after trading as low as 1.2641. The move to the upside began ahead of the publication. Were there rumours? Or was it a leak? Resistance is at 1.27, followed by 1.2770 and 1.27840. Support is at 1.2615. More: GBP/USD – more downside to 1.21? Two opinions The UK elections turned from a non-event that was supposed to provide May with a personal mandate to a total mess that could make Brexit much messier. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next CAD: ‘Shifting Sands’ For CAD; Where To Target? – BTMU Yohay Elam 6 years Prices are rising at a faster clip than expected. Month over month, headline CPI rose by 0.3%, above 0.2% expected. Year over year, the advance is already 2.9% in May, also beyond 2.7% projected. It is not only energy. Core CPI follows through to 2.6%, above 2.4% expected. These are the highest levels since 2012. The Bank of England now has a tougher dilemma. They can raise rates in order to push the pound higher and lower the prices of imported goods. However, raising interest rates also means cooling demand. And this is not a good time to curb demand.… 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.
