Cable visits 1.2400 ahead of the data
Some nerves ahead of the data or has someone had a sniff of the numbers? The Treasury Select Committee head Andrew Tyrie will be watching this closely.
The CPI numbers now mean a whole lot more after some of the BOE MPC said their tolerance limits are becoming stretched.
Expectations are for a decent 2/3pp jump from last month and if we see those beaten, the quid is going to fly. If we match expectations we still might maintain this bid. Worse than expected numbers is going to let the air out of this rally very swiftly.
GBPUSD 15m chart
5 minutes until the off.
