Saxo Group Videos

How to trade GBP on UK inflation news

UK inflation has fallen to a five-year low of 1.2% in September, down from 1.5% the month before. The pound fell sharply after the figures were released.

London-based trader Ken Veksler says the sharper-than-expected drop most likely means the Bank of England won't take action to raise rates anytime soon.

On the technical side, Ken explains that sterling against the dollar is in a range around 1.58-59 on the downside and 1.62 on the topside, and will stay there until further data out of the UK will drive directionality.

01:18 minutes
Tags: foreign exchange, foreign exchange market, forex, forex 2014, forex 2014 outlook, forex and more, forex buying, forex eurusd, forex exchange, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex strategy, forex trade idea, forex trade ideas, forex trading, forex trading 2014, forextrading, fx, fx crosses, fx forex, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx trade, fx trade idea, fx trading, fx volatility, gbp, gbp trading 2014, gbpeur, gbpusd, inflation, inflation and investing, inflation in europe, inflation rate, inflation rates, inflation report, inflation target, investing, investment, investment strategy, investors, rate, rate hike, rate rise, rates, rates decision, rates decisions, saxo bank, saxo tv, trade idea, trade view, trader, traders, trading, tradingfloor, tradingfloor.com, tradingfloor.com insights, video

Switch to