UK CPI results lower than anticipated

Tuesday, 12 April 2011 02:36

UK CPI was realaed this morning with lower results than expected by 50%.  The prediction was 0.6% while only 0.3% was given.  This pushes a fall in infaltion for the first time since July 2010. 

GBP/USD went from 1.6316 to 1.6239, currently trading at 1.6253.

Retail sales are at their lowest as the British Retail Consoritum confirmed.  Like-for-like sales dropped 3.5% in March.  This is the worse retail situation Britain has seen in 16 years.