Mr. SUN Yu (Elic) VP Client Relations China - Manages Chinese business relations for the brand. Elic provides market commentary for well-known media in China, including:, Financial News and China Finance Information Network. Elic serves as a special guest analyst on the CCTV Financial Channel to provide real-time analysis on the foreign exchange market.

UK CPI is Out

The UK Consumer Price Index (CPI) is out and it is the highest it has been since June 2013.

The CPI for May came in at 2.9%, up from 2.7% previously.  This keeps the inflation above the 2% target set by the Bank of England (BOE).

The reasons for the increase according to the Office of National Statics (ONS) is the increased costs of imported goods like computer games and the increased cost in foreign holiday packages due to a low British pound.

Talking of the sterling, its reaction to this announcement is muted at best as at the time of writing it is attempting to break through what is looking like a key psychological level of 1.27 against the USD.

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