- EUR/GBP moves negatively after paring intraday gains amid mixed UK inflation figures.
- UK CPI MoM remained stable at a 0.6% increase in March, while the YoY index rose by 3.2%, exceeding expectations.
- Traders shift their focus on the Eurozone Harmonized Index of Consumer Prices, set to be released Wednesday.
EUR/GBP faces downward pressure following mixed Consumer Price Index (CPI) data from the United Kingdom (UK). The EUR/GBP pair dips to near 0.8540 during the Asian session on Wednesday. Market attention now turns to the Eurozone Harmonized Index of Consumer Prices (HICP) for March, set to be released later in the day.
In March, UK CPI (MoM) maintained a steady pace of 0.6%, while year-over-year Consumer Inflation increased by 3.2%, slightly above the expectations of 3.1% but lower than the previous 3.4%. Meanwhile, Core CPI YoY rose by 4.2%, surpassing expectations of 4.1% but lower than the previous 4.5%.
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