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
The Panthenon Investment Group 