Do you think a major indicator representing change in price that the government is ready to pay for labor can influence the daily performance of one of the major currencies? Well, of course it can! And that is exactly what is happening to the GBP today. The leading indicator of consumer inflation – the more businesses have to pay the more consumers are going to have to pay in the end – that is the report the currency is facing today. And it seems that because of Brexit traders are doubtful that they are going to see something good in the report.
There was a pretty strong fall and even though we saw a little bounce of GBP price against the greenback there is still doubt that upon the release of the report and seeing the actual numbers traders are not going to drop GBP to the even lower point.
But waiting for the report bears the actual risk for us now. Turbulence can be pretty unpredictable and trading signals are a must-use today on the couple.
