Pound Mixed After U.K. PPI Data
25 Janvier 2023 - 09:50AM
RTTF2
The pound showed mixed trading against its major counterparts in
the European session on Wednesday, after a data showed that
nation's producer inflation came in below expectations in
December.
Data from the Office for National Statistics showed that output
price inflation unexpectedly slowed to 14.7 percent from 16.2
percent a month ago. Economists had forecast prices to gain at a
faster pace of 16.4 percent.
Input price inflation moderated to 16.5 percent in December from
18.0 percent in November. Prices were expected to climb again by
18.0 percent.
Month-on-month, output prices dropped 0.8 percent, following a
0.1 percent fall in the prior month and in contrast to the 0.3
percent expected growth. This was the lowest monthly rate since
April 2020.
On a monthly basis, input prices fell 1.1 percent, faster than
the 0.2 percent decrease a month ago and also the forecast of -0.6
percent.
The pound dropped to 5-day lows of 159.50 against the yen and
1.1342 against the franc, from its early highs of 160.93 and
1.1397, respectively. The pound is seen finding support around
156.00 against the yen and 1.11 against the franc.
The pound recovered to 1.2337 against the greenback and 0.8815
against the euro, after falling to 1.2283 and an 8-day low of
0.8852, respectively in early deals. Next key resistance for the
pound is likely seen around 1.25 against the greenback and 0.86
against the euro.
Euro vs Sterling (FX:EURGBP)
Graphique Historique de la Devise
De Nov 2023 à Déc 2023
Euro vs Sterling (FX:EURGBP)
Graphique Historique de la Devise
De Déc 2022 à Déc 2023