Important events today:

13:30 UTC – US: retail sales for October.

The UK’s National Statistics Office has provided fresh inflation data for October. Core inflation in Britain is declining, which allows the Bank of England not to raise interest rates at the next meeting on 14 December, as the British monetary regulator is looking for any excuse not to tighten monetary policy.

On the one hand, this is a negative signal for this currency pair, as real interest rates in the UK will remain negative for a long time. On the other hand, the US Fed is also not set to raise interest rates, which is negative for the dollar.

Recommendations: flat at 1.2400 -1.2510.