GBP/JPY breaks its three-day winning streak, trading around 191.80 during the European hours on Tuesday.
GBP/JPY falls as traders adopt caution ahead of US ISM Manufacturing PMI release on Tuesday. The JPY may face challenges as weak Japan ese manufacturing data fuels expectations of the BoJ postponing further rate hikes. BRC Like-for-Like Retail Sales rose by 0.8% YoY in August, against the previous 0.3% rise. However, the JPY encountered challenges as weak Japan ese manufacturing data fueled speculation that the Bank of Japan might postpone further rate hikes.
Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%. What is the Consumer Price Index ? The Consumer Price Index measures the change in prices of a basket of goods and services over a period of time.
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