Open Demo Account
Home / Market Update / Forex Market / GBP/USD Rises as Inflation in UK Advances

GBP/USD Rises as Inflation in UK Advances

M. Ali 20 January, 2021 7:22 pm Forex Market, Market Update

The British Pound (GBP) is rising on Wednesday against the U.S. Dollar (USD), after data showed that inflation in the United Kingdom (UK) rose more than expected during December.

The GBP/USD pair is up by 0.19% for the day, trading at 1.3656.

The pair has been moving today in a range between 1.3628 and 1.3718, mostly in the positive territory, as it closed Tuesday at the level of 1.3630.

Earlier today, data showed that inflation in Britain increased more than expected in December, with the consumer price index (CPI) rising by 0.6% on an annual basis, following a 0.3% increase in November, according to the UK’s Office for National Statistics.

Tags

Check Also

Trump’s Trade Triumph: UK Deal Boosts Beef, Ethanol, and Economic Alignment

President Donald Trump made a flurry of remarks on Thursday, highlighting what he described as …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends