Inflation rate turned to be better than initially estimated yesterday which help the pound not to lose its positions amid the euro fall together with other currencies. CPI index was 2.9% consensus 3.1%, core CPI managed to hold 2.1% level against forecasted 2.2%.
At 12:30 (GMT +3) the publication of the minutes of the last BoE meeting will be of much importance. Investors expect the Committee to favor the next QE as they already gave such hints.
The correction may have two targets depending on the release: 1.6190 and 1.6150. Bullish targets: 1.6290 and 1.6313.
