The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
This economic indicator is highly important for the Bank of England’s monetary policy because it is used as the central bank’s inflation target. The higher the annual consumer inflation gets, the closer an interest hike is. As a result, if CPI growth is greater than the forecast, the GBP will have chances to go up.
The UK will release Consumer Price Index at 11:30 MT time.
UPDATE. CPI came out lower than expected. GBP/USD fell below 1.34.
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