Weaker UK inflation data gave the pound a wobble but buyers poised 20 March
data post there’s little of surprise/concern the softer readings which are in line with BOE forecasts of inflation peaking around 3%.
No rush to hike rates but similarly it’s all in their assessment and inflation not the only game in town. UK wages data tomorrow will be just as keenly awaited.
Good demand/support around 1.4020 as per my order board post is holding so far. More interest at 1.4000. Similarly though sell interest building around 1.4665 with larger into 1.4080-00. EURGBP has supply around 0.8800 and demand 0.8750.
GBPJPY continues to be a prime mover given the large volumes traded by hedge funds, something I made you aware of here many months ago, but that pair’s relatively contained too in a 148.80-149.80 range.
Seems to me like nothing going too far in a hurry right now.