The Pound Sterling (GBP) is gaining ground against major peers, with the exception of the antipodeans, as it strengthens on the back of stronger-than-expected UK inflation data. The Consumer Price Index (CPI) for December rose 0.4% month-on-month, surpassing the forecast of 0.3%, further bolstering GBP sentiment. GBP/USD is trading higher at 1.2465, while GBP/EUR is up at 1.1340, reflecting broader gains in the currency.
Markets are now awaiting upcoming data releases, including UK Retail Sales and flash PMI figures, which could offer further insights into the health of the UK economy. The Pound's strength against the EUR and USD suggests investor optimism, with a continued focus on inflationary pressures and potential tightening by the Bank of England. If upcoming data aligns with expectations, GBP could maintain its upward momentum in the short term.
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Data Source: FX Killer Analysis Team Updated: 2026-01-22 14:31
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.