By Alexander Bueso
Date: Wednesday 14 Aug 2019
LONDON (ShareCast) - (Sharecast News) - The pound was buoyed on Wednesday by a stronger-than-expected reading on July consumer prices, despite the generally risk-off mood in markets.
According to the Office for National Statistics, the year-on-year rate for harmonised consumer prices in the UK accelerated to 2.0%, comfortably exceeding the consensus for a rise to 1.8%.
As an aside, on Wednesday analysts at Barclays Research bumped up their inflation forecasts for the UK and were now anticipating core CPI consistently above Bank's 2.0% target over their forecast horizon on the back of recent weakness in Sterling and the growing likelihood of fiscal stimulus.
The Greenback was also higher, with euro/dollar down by 0.3% at 1.11338 and the US dollar spot index adding 0.18% to 97.9850.
America's dollar was also higher versus the Loonie, tacking on 0.74% to 1.33206, while the Aussie was sliding 0.75% to 0.67462.
But the strongest currency was the Japanese yen, with the US dollar falling by 0.8% to 105.8950.
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Currency | Rate | Chg |
---|---|---|
AUD | 1.9275 | -0.0095 |
CAD | 1.7012 | -0.0113 |
CHF | 1.1263 | -0.0086 |
CNY | 8.9572 | -0.0445 |
DKK | 8.6631 | -0.0566 |
EUR | 1.1612 | -0.0074 |
HKD | 9.6904 | -0.0491 |
INR | 103.1987 | -0.6895 |
JPY | 191.2927 | -1.0285 |
NOK | 13.6345 | -0.1170 |
NZD | 2.1016 | -0.0063 |
SEK | 13.5206 | -0.1248 |
SGD | 1.6846 | -0.0096 |
THB | 45.5826 | -0.1645 |
TWD | 40.3044 | -0.1324 |
USD | 1.2371 | -0.0065 |
ZAR | 23.5960 | -0.2186 |
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