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Flash: Inflation still problematic for the UK - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that the UK is one of the few high income countries in which measured inflation is still problematic.

The add that news that April inflation measures fell more than expected spurred ideas that guilt purchases may be resumed and Gilts rallied and sterling came off. April CPI slipped to 2.4% from 2.8% in March while the market expected a 2.6% y/y pace. They feel that the drop in transportation and fuel prices accounted for almost half the improvement. Still, the core rate fell to 2% from 2.4% while on the producer level, input prices fell more than expected (-2.3% vs. consensus -1.3%) and this saw the y/y rate dip into negative territory (-0.1%) for the first time since last November. Further, output price slipped 0.1% m/m in April rather than rise 0.2% as the consensus expected. They add that this translates into a 1.1% y/y rise while core output prices are up 0.8% on a y/y basis. They finish by writing, “Separately, the UK reported the ONS house price measure rose 2.7% from a year ago. This is the second fastest pace since December 2010.”

Flash: USD/JPY broader trend still is positive territory – TD Securities

After a survey of Japanese corporations released by Reuters earlier noted that nearly half of the respondents (48%) wanted USD/JPY to stabilize around JPY100, TD Securities noted that the broader trend in USD/JPY still looks positive.
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Flash: USD momentum continues as Gold corrects - Societe Generale

Sebasiten Galy, Senior FX Strategist at Societe Generale notes that the USD momentum continues after a short respite yesterday following a similar pattern of correction seen in Gold.
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