GBPUSD – Flat
GBPUSD trading plan:
The U.S. inflation report for August has landed, and the previously unthinkable is now a possibility: could the Fed raise rates by 100 basis points next week? Monthly U.S consumer prices unexpectedly rose in August as declining gasoline prices were offset by gains in the costs of rent and food, giving cover for the Federal Reserve to deliver another hefty interest rate increase next Wednesday. In the 12 months through August, the CPI increased 8.3%, decelerating from July’s 8.5% rise. The annual CPI peaked at 9.1% in June, which was the biggest gain since November 1981. The two-year U.S. Treasury yield, surged and was up 17 basis points at 3.74%.
Investment idea: sell 1.1525 and take profit 1.1433.
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