News that inflation in the UK fell to a 5 year low and a push back in UK rate hike timing by a noted analyst has put the Pound into a quasi-freefall to start today. The market has effectively discounted predictionsfrom PIMCO of a BOE rate hike in February, perhaps because the tone of economic news released overnightsmacks of deflation and recession and that leaves rate hike talk as background noise. The next significant supportzone on the charts is seen all the way down at 1.5870.
