The EUR/GBP cross loses its recovery momentum near 0.8445 during the early European session on Wednesday.
EUR/GBP weakens around 0.8445 in Wednesday’s early European session. The UK annual CPI climbed 2.2% in August vs. 2.2% expected. Investors will shift their focus to the Eurozone HICP inflation for August, which is due on Wednesday. The Pound Sterling edges higher after the UK inflation data. The attention will shift to the Eurozone Harmonized Index of Consumer Prices data, wishes to you later in the day.
Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%. What is the Consumer Price Index ? The Consumer Price Index measures the change in prices of a basket of goods and services over a period of time.
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