: UK inflation continues to slow

Current dynamic

After a significant decline last week, the GBP/USD pair is correcting upward at 1.2716 on the back of slowing US currency growth and positive UK macroeconomic statistics.

In May, the Consumer Price Index rose by 0.3% on a monthly basis, roughly in line with analyst expectations, which contributed to correcting the annual figure from 2.3% to 2.0% and continuing the trend of recent months, while excluding the core value and prices of fuel and food products fell from 3.9%. To 3.5%. However, the likelihood of these data influencing the Bank of England's monetary policy decisions is very low. Most likely, economists have already taken into account the current dynamics and will continue to maintain borrowing costs at around 5.25% in order to bring inflation back to the 2.0% target. On Friday at 08:00 (GMT+2) a report will be published on the dynamics of retail sales, which, according to forecasts, will be revised from -2.3% to 1.5% on a monthly basis and from -2.7% to -0.9- annually. In addition, the S&P Global Business Activity Index may slow in June in the manufacturing sector from 51.2 points to 51.0 points and in the services sector from 52.9 points to 53.0 points.

The US dollar is trading at 104.90 on USDX. Tomorrow, investors will pay attention to the national housing market statistics#forex #BinanceTournament" #FavoriteToken