The inflation report will provide an outlook on BoE's interest rate policy. The market widely expect the first rate hike by
That was well shy of forecasts for an increase of 0.9% following the 0.8% contraction in June.
The pound rose back against the yen, reaching a 4-day high of 171.72 from an early low of 171.37. If the pound extends its rise, 172.5 is seen as its next possible resistance level. The pair ended Monday's deals at 171.50.
The pound hit a 4-day high of 1.5277 against the Swiss franc, off an early low of 1.5208. Next key resistance for the pound-franc pair may be seen around the 1.53 region. At yesterday's close, the pair was quoted at 1.5216.
The pound advanced to a 4-day high of 0.7945 against the euro, after having fallen to 0.7979 at
The pound recovered to 1.6784 against the US dollar, at where it ended yesterday's deals. This follows a 2-month decline of pound to 1.6756 a dollar in prior deals. The next resistance level for the pound is seen at the 1.69 region.
Looking ahead, US monthly budget statement for July is due at
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