Inflation in the UK remained at the same level, so the fears that the Bank of England lost control of the situation, do not go anywhere. This is what prevented the pound from re-establishing its position against the dollar. But the single European currency against the background of the absence of any news from the US has corrected its position.
Today, a lot of extremely important macroeconomic data comes out, so you will not have to be bored. In Europe, it is projected to accelerate industrial production growth from 3.2% to 4.2%, and the second GDP estimate for the fourth quarter should confirm the acceleration of economic growth. All news is extremely positive, so that a single European currency has a serious reason for growth. In turn, the US is expected to slow inflation from 2.1% to 1.9%, which is unlikely to appeal to investors. The situation is aggravated also by the expectation of a slowdown in the growth rate of retail sales from 5.4% to 5.2%, as well as growth in commercial reserves by 0.3%. It can be seen that the expectations for today's US statistics are purely negative, and if they are confirmed, the dollar will have a hard time.
The euro / dollar pair has all chances to grow to 1.2450.
The pair of pound / dollar has good chances to rise to 1.4025.
