Sterling hammered after sharp decline in UK inflation
An unexpected drop in UK inflation triggered quite a substantial repositioning in sterling. EUR/GBP jumped higher and cable dropped below the 1.5894 range bottom. Today, the UK inflation debate will continue with the BoE inflation report. EUR/USD drifted cautiously higher in technical trade. More technically inspired trading can be expected for most other major USD cross rates ahead of the hearing of Fed’s Yellen before the Senate tomorrow.
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