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GBP/USD fell over 400 pips during the first half of May, before rallying 300 pips between the 16-18th as swings in Brexit polls continued to drive sentiment in sterling.
Upside was capped on the 17th with a miss on CPI readings for April; Core CPI was flat for the month and down to 1.2% y/y, from a prior of 1.5% and below expectations of 1.4%. Headline CPI rose a mere 0.3% in the 12 months ending April 30. Despite this miss, downside in GBP was limited as the much of decline in prices was assoc…
Upside was capped on the 17th with a miss on CPI readings for April; Core CPI was flat for the month and down to 1.2% y/y, from a prior of 1.5% and below expectations of 1.4%. Headline CPI rose a mere 0.3% in the 12 months ending April 30. Despite this miss, downside in GBP was limited as the much of decline in prices was assoc…
