GBP drops sharply after CPI miss. Headline CPI slowed to 2.5% yoy in March versus expectation of 2.7% yoy. Core CPI dropped to 2.3% yoy versus expectation of rising to 2.5% yoy. Now, slowing consumer inflation is putting a May BoE hike in doubt.
GBP/USD’s fall from 1.4376 accelerates after the release. And focus is back on 1.4144 minor support. Break will threaten near term reversal.
