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Nowadays inflation data of all first world countries is an important economic data to watch out for. Today, is UK CPI.

I decided to place my straddle trade with the following details: –

GBPUSD; Stop if Offered at 1.3335, Spot att 1.3341, Stop if Bid at 1.3365

As it turned out CPI came slightly higher at 3.1% against forecast of 3.0%. Core CPI was the same at 2.7%.

The GBPUSD moved up and triggered by stop if bid, however, after less than 10 minutes it simply had no legs.

I squared the trade at 1.3375 for a small trading profit of 10bps.

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