High UK inflation boosts pound - UBS

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The UBS analyst team noted that solid inflation figures should eventually lead to central bank action even though Carney moderated such expectations on Tuesday.



Key Quotes



“High inflation boosted the value of the pound on Tuesday. In June core CPI rose by 1.9% yoy against expectations of 1.6%. A separate statistic showed that London area house prices rose by a record 20% yoy”.



“The recovery of consumer and house prices is much quicker than many expected and should eventually lead to central bank action, even though Mark Carney, the head of the BoE, moderated such expectations on Tuesday”.



“GBP/CHF has risen by more than one big figure from 1.52 to well above 1.53”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Double Top reversal in GBP/USD hourly chart – FXStreet

  2. Forex News

    GBP/USD bullish above 1.5265 – Varengold

  3. Forex News

    GBP/USD consolidates above 20-DMA, awaits fresh incentives

  4. Forex News

    GBP/USD Technical Analysis: Digestion Below 1.53 Continues

  5. Forex News

    GBP: Fed volatility within 50 pip range, scores ground on 1.52 handle

Trading Center