Will UK Inflation Data Cause Decrease of the Pound?

The British pound is under a bit of pressure again, as political problems resumed during the Brexit talks between the UK and the EU. Sterling is likely to remain volatile today. Data on inflation in the UK for October are awaited, and Bank of England Governor Mark Carney speaking shortly after. Earlier, the central bank of Great Britain assumed that inflation in October would exceed 3%.

The rate of the pound against the US dollar fell yesterday because of news about the dissatisfaction of the Conservative Party of Great Britain with the work of Prime Minister Theresa May.

Germany's GDP did not bring any surprises, as the country's economy grew by 2.3% in the third quarter compared with the previous year, according to forecasts. Inflation remained unchanged at 1.6% compared with the previous month, and also in line with expectations.