GBP/USD Drops from around $1.5644 to $1.5622 on reaction to the release of weaker than forecast UK inflation data, the headline rate coming in at 2.8% from median expectation of 3.0%.

Market news

19 June 2012

GBP/USD Drops from around $1.5644 to $1.5622 on reaction to the release of weaker than forecast UK inflation data, the headline rate coming in at 2.8% from median expectation of 3.0%.

Rate holding heavy on second wave sales, currently meeting profit take demand as market was looking well positioned for the softer release. Next bids seen into $1.5610/00 ahead of $1.5580.

Germany: ZEW Survey - Economic Sentiment, June -16.9 (forecast 3.6)

United Kingdom: Retail prices, Y/Y, May +3.1% (forecast +3.3%)

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