GBP/USD: from data to Brexit risks, outlook is bearish - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that GBP/USD plummeted to 1.4090, weighed by a mixture of negative data.

Key Quotes:

"The day started with a new Brexit poll, showing that the "leave" intention vote continues increasing as the date looms, and with the release of poor inflation data in the UK. According to official releases, the Consumer price index  rose by 0.3% in May, while compared to a year before, it came in up at 1.2%."

"Both numbers were below market's expectations, but in line with April's readings."

"The PPI, The price of goods bought and sold by UK manufacturers, continued to fall in the year to May 2016 down by 0.7% and barely up 0.1% in its monthly figure. Finally, the Bank of England launched the first of three special funding operations, to ensure some financial stability ahead of the Brexit vote."