Скачать или смотреть UK inflation data discourages traders (20.03.2018)

After reaching a month high, the pound/US dollar pair gradually corrects. Traders pay attention to important macroeconomic statistics ahead of the FOMC meeting.
Today the United Kingdom published its inflation data. On an annual basis, growth of the consumer price index slowed down to 2.7 percent. Analyst had expected a 2.8 percent increase. Monthly, the inflation rate rose by 0.4 percent in February, after a reduction by 0.5 percent in the previous month. However, the latest value is below market expectations of a 0.5 percent increase. Slow growth of consumer prices put pressure on the British pound.
The pound/US dollar pair is trading around 1.4030. Economists expect the pair to sink to 1.4000 tomorrow, as traders will opt for the US dollar after announcement of the Fed’s decision on the funds rate.
Market participants are sure that the Fed will change its monetary policy, while the Bank of England is expected to keep the rate unchanged.
Nevertheless, the pair still receives support from the news that the EU and the UK reached progress in the Brexit negotiations. Moreover, tomorrow the UK will release data on average earnings, which can trigger growth of the pound against the US dollar.

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