British Pound at key levels after higher inflation and higher daily coronavirus deaths: GBP/USD, GBP/JPY, GBP/NZD, EUR/GBP
British Pound at key levels after higher inflation and higher daily coronavirus deaths: GBP/USD, GBP/JPY, GBP/NZD, EUR/GBP
Joe Perry
January 20, 2021 9:01 PM
The Pound is at important levels vs several currencies, and GBP pairs need to be watched closely.
Share:
Inflation data released earlier was stronger than expected, as the headline inflation rate was 0.3% vs 0.2% expected (MoM). In addition, the core inflation rate moved to 0.3% vs 0.1% expected (MoM). The result was a move higher in the GBP/USD into strong resistance near 1.3700. However, price pulled back throughout the US session, and late in the day, the UK released their daily coronavirus deaths: 1,820. This is a new daily high since the pandemic began. UK Prime Minister Boris Johnson said the number was “appalling” and “there will be more to come.” Does this mean more stimulus? If so, will GBP move lower? The Pound is at important levels vs several currencies, and GBP pairs need to be watched closely.