# Sterling trips as traders mull inflation, wary over Middle East | Reuters

> Sterling fell on October 19 as traders digested UK inflation data showing CPI unexpectedly held at 6.7% in September. The pound traded near $1.2106 amid risk-averse conditions linked to Middle East tensions.

- Date: 2023-10-19 · published 2023-10-19T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/33886-sterling-trips-as-traders-mull-inflation-wary-over-middle-east-reuters
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Sticky UK inflation raises the chance of further Bank of England rate hikes, which supports sterling. For feed buyers, the direct link to grain and meal prices is weak.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/sterling-trips-traders-mull-inflation-wary-over-middle-east-2023-10-19/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.