GBPINR Approaching All-Time Highs Of 105 Mark

Published on Jul 06, 2023 15:27

GBPINR is hovering just below all time high of 105 mark on Thursday as rupee came under severe pressure amid hawkish sentiments from the Fed minutes. Crude oil holding at elevated levels is also weighing down INR. The pair is quoting at 104.95, up around 0.45% on the day. Meanwhile, findings from the Decision Maker Panel (DMP) survey conducted by BoE reveal businesses expect output price inflation to fall over the next year as the year-ahead output price inflation was expected to be 5.3% in the three months to June, down from 5.4% in the three months to May. One-year ahead CPI inflation expectations decreased to 5.7% in June, down from 5.9% in May. However, three-year ahead CPI inflation expectations slightly increased to 3.7% in June, up 0.2 percentage points relative to May. However, GBPUSD stood firm at $1.2728, up 0.24% on the day.