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UK CPI slows a little more than expected- GBP/USD edges off new 2025 high
The UK March CPI and RPI inflation reports have now hit the screens. As reported a little earlier, the markets were anticipating a slight moderation in both matrix last month. Well, that is what has just showed up. UK CPI fell back to 2.6% annualised, but the RPI reading matched expectations at 3.2%. Ahead of these releases the GBP/USD has extended its gains to above 1.3290 and it has just edged off that high, but overall this data is not sufficient to talk the BOE into cutting rates ahead of schedule and that means the Pound might not back off that much for the reasons due to this data. The GBP/USD is right now at 1.3272
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GBP/USD making some progress now towards 1.3250
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