The Pound is very cautious. Overview for 17.06.2020

GBPUSD is barely moving on Wednesday afternoon; investors are monitoring the statistics. 

The British Pound is rather inactive against the USD on Wednesday as market players are focusing their attention on the statistics. The current quote for the instrument is 1.2575.

The statistics published in the morning revealed a lot of interesting information about the prices in the United Kingdom. The Consumer Price Index was 0.5% y/y in May after being 0.8% y/y the month before. The PPI Input added 0.3% m/m after losing 5.5% m/m in April, while the PPI Output lost 0.3% m/m after showing -0.8% m/m the month before. 

The Core CPI was 1.2% y/y in May, which is worse than bot expected and previous readings. 

The RPI showed 1.0% y/y after being 1.5% y/y in April. 

It was rather difficult to expect anything completely different at the time when both manufacturers and consumers are inactive. It seems like investors are in confusion right now: on one hand, nothing really bad happened but on the other hand, no one feels positive after these readings. The Bank of England helped the country’s economy with stimulus measures but the effect will come later. This is exactly what investors are doing right now – they are waiting.