The Pound Sterling (GBP) experienced a notable decline against its major counterparts on Wednesday, driven by disappointing UK Consumer Price Index (CPI) data for October. The exchange rate fell sharply, with GBP/USD trading at 1.2250, a significant drop that intensified market speculation around a dovish stance from the Bank of England (BoE). The CPI data revealed a softer inflation reading, which has led traders to reassess interest rate expectations.
In contrast, the euro (EUR) gained against the pound, pushing the GBP/EUR down to 1.1600. The weak inflation figures have raised concerns about the UK’s economic outlook, prompting investors to adjust their positions ahead of the BoE's next policy meeting. As the market digests this data, the dovish bets on the BoE are likely to keep the pound under pressure, with traders closely monitoring further economic indicators for direction.
About FX Killer Trader Incubation Program
Want to become a professional trader? FX Killer offers a completely free professional trader training program. We provide systematic courses, practical training, and professional mentorship to help you grow from beginner to full-time trader.
👉 Join Free Training Program | Trading Psychology Assessment
Data Source: FX Killer Analysis Team Updated: 2025-11-19 13:31
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.