Foreign Exchange Daily Market Update 13/12/2016

Tue, December 13, 2016

U.K. Inflation Rises Most In Two Years

U.K. inflation rose more than economists forecast in November.

The rise to 1.2% from 0.9% in October means consumer prices are increasing at the fastest pace since October 2014. Economists had expected an increase to 1.1%.

The latest data released also added to evidence of the build up in inflation pressures because of sterling’s plunge since Brexit and rising oil costs. U.K. import prices rose almost 15% percent last month, the biggest annual increase in five years, and upward pressure from energy may intensify after this month’s output cut by OPEC.

Core inflation advanced to 1.4% last month from 1.2% in October. That was faster than the 1.3% economists had forecasted.

The Pound rose against both the Dollar and the Euro after this data to 1.2714 & 1.1967.

Data to look out for today.

Not Much Data Out Today

CURRENCY PAYMENTS MADE SIMPLE

PRESS RELEASE

KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html

Data Releases