FX.co ★ Construction Spending Can Support the Dollar

The pound was quite shaken yesterday on the back of the slowdown in inflation from 2.9% to 2.6%, as the producer price growth declined from 3.6% to 3.3%.

Even with inflation of almost 3.0%, Mark Carney strongly opposed in raising the refinancing rate while there are additional arguments in terms of slowdown in prices.

Today, it is only the United States that has significant news to be released.

The inventory is expected to reduce by 3.7 million barrels.

The EUR/USD pair may drop slightly to 1.1495.

The GBP/USD pair is bound to fall to 1.2995.