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Felt that this would be a mover, so decided to put on my straddle just before release of data with the following details: –

Stop if Offered 1.3170, Spot 1.3200, Stop if Bid 1.3230

As it turned out, CPI shot up to 2.9% against forecast of 2.8%, core CPI at 2.7% against forecast of 2.5%, PPI elevated to 0.4% from 0.1%.

GBP strengthened and triggered by Stop if Bid level.

I squared half the position at 1.3255 for a trading profit of 25bps and squared the balance at 1.3270 for a trading profit of 40bps.

Not a bad start after not trading for over a month.

Next is Claimant count and then BOE decision

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