$GBPUSD Forex Signal: Sterling Prepares for a Brief Rally-
UK inflation and US housing datanumbers. According to the Office of National Statistics , the country’s consumer price index dropped to 0.1% in June from the previous 0.7% in May. This decline translated to a year-on-year decline of 7.9%.
The Retail Price Index dropped from 0.7% to 0.3%. It moved from 11.3% to 10.7% on a YoY basis. Further, the producer price index dropped to -2.7% in June. These numbers mean that inflation is moving in the right direction.
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