GBPUSD

Markets are still uneasy ahead of today's release of U.S. inflation data, thus Cable is virtually unchanged from yesterday's closing (see economic calendar below).

Since there are no events planned for the UK today, the CPI takes center stage with an expected 8.7%. After examining the nowcast data from the Cleveland Fed, many analysts are searching for a real problem around the 9% level that might cause the currency to rise after the CPI.

Dollar price action did not reflect last week's excellent NFP data, but an upside surprise could undoubtedly aid dollar bulls this week in making up some lost ground.


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