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If you wish to open an account in an EU investment firm and protected by EU laws, you will be redirected to Ultima Markets Cyprus Ltd (the “CIF”), a Cyprus investment firm duly licensed and regulated by the Cyprus Securities and Exchange Commission with license number 426/23.
On Thursday, Feb. 15th, the UK pound slightly decreased in value, dropping below $1.26 compared to the US dollar following the latest UK CPI data revealed. The figures alleviated concerns about escalating inflation pressure.
For January, the yearly inflation rate in the UK remained consistent at 4%, a bit lower than the anticipated 4.2%. The Bank of England (BoE) predicted a rise to 4.1% in its recent inflation estimates. However, the data also indicated a slower-than-expected slump in wage growth during the closing months of 2023, implying a longer cooling-off period for the UK employment market. Consequently, the Bank of England might postpone any possible interest rate reductions.
The forthcoming UK economic information includes Q4 GDP numbers, with market experts predicting a decline of 0.1%, which would technically plunge the UK into a recession. Conversely, January’s US inflation rate exceeded expectations, diminishing the prospects of immediate interest rate reductions from the Federal Reserve in March or May. This caused the US dollar to strengthen and further weakened the British pound. Most experts expect limited scope for additional monetary easing from the Bank of England or UK pound enhancements until a steady global price pressure decrease is evident.
(Inflation Rate， Office for National Statistics UK)
(GBPUSD Weekly Chart)
Disclaimer
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
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Risk Warning: Trading Forex and CFDs carries the risk of losing substantially more than your initial investment and should only be traded with money you can afford to lose. You do not own or have any rights to the assets that underlying the derivatives (such as the right to receive dividend payments). Ensure you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please consider our legal documents and ensure that you fully understand the risks before you make any trading decisions.
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Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission "FSC" of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
HuaPrime EU Ltd, registered number HE423188, and with a business address at Georgiou Griva Digeni 122A, Kallinicos Court, Shop 1—Upper level, Neapolis, 3101 Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission, which has CIF license number 426/23.
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