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Forex in 60 Seconds - GBP/USD Surges as Inflation Accelerates, US Dollar May Be In For Additional Losses

Monday, 12 May 2008 21:16:51 GMT

Written by Terri Belkas, Currency Analyst

 ·          Strong than expected UK PPI leads GBP/USD higher, sets stage for hot UK CPI figures on Tuesday.
 ·          The US dollar faces heavy event risk on US Advance Retail Sales - will gas prices inflate this index once again?

Stories to watch on DailyFX

·          What will move the markets this week? Find out the Top 5 Most Important Events. Next up: US Advance Retail Sales
·          What does the most recent COT index tell us about positioning in the forex markets? What does this mean for the Euro and British pound?

We love feedback! Send any comments or suggestions to tbelkas@dailyfx.com

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