Jonathan Cook
on January 20th, 2026 For technical reasons (specifically the date chosen to measure consumer prices around Christmas), analysts at major banks are struggling to forecast tomorrow’s inflation release. Inflation is expected to hold steady or tick up slightly, but the final number may hinge on how close to Christmas the sample was taken, along with how much prices rose in the festive season. The answer to that question could have a big impact on the pound.
GBP/USD: the past year
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