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UK CPI marks second consecutive sub-zero reading – BBH

FXStreet (Delhi) – Research Team at BBH, notes that a tick up in the UK core CPI offset news of the second consecutive sub-zero reading on the headline.

Key Quotes

“This has helped steady sterling near $1.5200. Many economists expect UK CPI to bottom out with this October reading. As the base effect kicks in, the headline rate may rise toward 0.3-0.4% by the end of the year. That the core rate is at 1.1%, up from 1.0%, is also seen as a favorable sign.”

“The June 2016 short-sterling futures contract is trading a little heavier, but participants do not want to get ahead of themselves. Retail sales, to be reported on Thursday are expected to be soft as the rugby-related sales unwind.”

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