15.07.2014 - Inflation in the UK has grown
The price of the British pound rose sharply and has won back yesterday's losses after it rebounded from a strong support level at 1.7060. Strengthening of the pound began after the publication of data on inflation in the UK. Thus, the consumer price index in June rose to 1.9%, which is 0.3% higher than the forecast and 0.4% higher than the previous figure. As a result, inflation should lead to a more rapid increase in interest rates by the Bank of England. We maintain a medium-term positive outlook for the British pound with the objectives of 1.72 and 1.73.