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GBP/USD holds 1.3000 and rebounds as dollar retreats
The initial reaction in the GBP/USD to the higher than forecast US CPI data saw the GBP/USD slide to its lowest level since September 11. The Pound fell to 1.3027, but as the dollar has since corrected lower and not yet rebounding anywhere of note, that has helped the GBP/USD to push back above 1.3090. The high seen just after the data all got digested was set at 1.3094 and that was its best level of the day. Now the thing is; no matter what unfolds today, there is a whole bunch of important UK data due out very early tomorrow morning, at 6am GMT. There will be more to add on that lot early tomorrow morning if not before, but it is very much a data deluge that will soon come onto the radar for the Pound. The GBP/USD is just now trading at 1.3074
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