Earlier today, official data showed that the U.K. rate of consumer price inflation increased by 0.3% in Feb, missing analysts’ forecasts. Additionally, although month-over-month consumer prices rose by 0.2% in the previous month, the data disappointed market participants, which pushed GBP/USD under 1.4300. How low could the pair go in the coming days?

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Earlier today, the pound moved lower against the greenback after Ian Duncan Smith (Secretary of State for Work and Pensions) Friday’s resignation. As a result, GBP/USD invalidated earlier breakout above the resistance zone and declined under 1.4400. What happened at the same time with other currency pairs?

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The USD Index plunged for the second day yesterday. When will the decline stop and what are the implications?

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Yesterday, the Fed announced that it had decided to leave the interest rates unchanged. However, this doesn’t mean that nothing changed. There was something that the Fed said that altered the outlook and in today’s alert we focus on the implications for the USD Index.

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Although today’s official data showed that Britain’s unemployment rate remained steady at 5.1% and the claimant count (it measures the change in the number of unemployed people in the U.K.) dropped by 18,000 in the previous month, GBP/USD is still under pressure as uncertainty over Britain’s future in the euro zone continued to weigh on investors’ sentiment. How low could the pair go in the coming days?

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