There is talk in the market that UK inflation data has leaked. Since it is not due for release this week according to the calendars I’ve consulted, I’m assuming the BOE’s inflation report (due tomorrow) may have leaked, if anything.
You have to assume the report/leak is dovish given the way GBP has fallen. The UK has been dealing with stubbornly high inflation in recent months given the relative weakness of the pound.
Not sure what to make of the talk, but it is in the market…
Cable is dipping below 1.6050 as we write.
