Important events today:

07:00 UTC – GB: December inflation.

Recently, the National Office of Statistics did not take into account the positive publication on the UK labor market. Today is the release on inflation and if the market also ignores the report, then we are likely to expect significant downward movement.

On the one hand, the situation is positive for the GBP now. Positive macroeconomic statistics forcing Libor bankers to raise interest rates, counting on the increase in the discount rate at the February meeting. The American Libor is now more than twice as low as the British one. This is more than enough to increase the price of the pound.

But it is possible that the market considers last week’s peak (1.3747) as the maximum of the British currency and now is the best time to focus on the upcoming increase in US interest rates.

Recommendations: Fluctuation in the range of 1.3550-1.3650.