{"id":100994,"date":"2020-06-10T02:46:30","date_gmt":"2020-06-10T06:46:30","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100994"},"modified":"2020-06-10T03:57:43","modified_gmt":"2020-06-10T07:57:43","slug":"103381-gbp-inr-returns-to-growth-updates-3-month-peak","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103381-gbp-inr-returns-to-growth-updates-3-month-peak\/","title":{"rendered":"GBP\/INR Returns to Growth, Updates 3-Month Peak"},"content":{"rendered":"

GBP\/INR<\/a> has returned to growth after flashing read yesterday morning. At the time of writing, one British pound buys 96.373 Indian rupees, up 0.32% as of 6:10 AM UTC. This is the sixth bullish session in a row, as the price has managed to close higher on Tuesday.<\/p>\n

Pound to Indian Rupee peaked in the morning at 96.433, which is the highest level since March 10. While the price is still following an uptrend that took off on May 18, it might face strong resistance at current levels.<\/p>\n

The rupee<\/a> cannot keep the pace with the sterling as the Indian economy is hit harder by the lockdown measures implemented in a bid to curb the spread of the new coronavirus. The UK is gradually reopening the economy, and it seems consumers are more optimistic even though the country goes through the worst recession in centuries.<\/p>\n

Earlier today, a Reuters poll found that India\u2019s inflation likely dropped to a six-month low in May, as growth in food prices has slowed amid supply disruptions. The consumer price index (CPI) is expected to have increased to 5.50% in May year-on-year. Government data for April is not available given the lockdown, and some economists believe the May data will be cancelled as well.<\/p>\n

Nevertheless, the declining inflation figure is still above the Reserve Bank of India\u2019s average target of 4.00%.<\/p>\n

ANZ economist Rini Sen commented<\/a>:<\/p>\n

\u201cFood prices will be the biggest risk, but we do not see a material jump in inflation owing to lifting of the lockdown … and rising unemployment numbers suggest demand-pull inflation will continue to be low<\/em>.\u201d<\/p>\n

UK, Japan Start Trade Talks<\/h2>\n

Elsewhere, the news that the UK and Japan agreed to start negotiations on an early trade deal bodes well for the pound. Britain is now seeking to reach trade agreements with countries around the world after officially leaving the European Union on January 31 and amid tense relationships with the bloc.<\/p>\n

Britain\u2019s ultimate goal is to become part of the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership.<\/p>\n

Japanese Foreign Minister Toshimitsu Motegi reacted positively to the interest expressed by British Trade Minister Liz Truss to join the Trans-Pacific free trade pact. Japan\u2019s foreign ministry stated<\/a>:<\/p>\n

\u201cBoth ministers agreed to start negotiations to build a new economic partnership and work towards an early agreement to secure business continuity for both countries<\/em>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

GBP\/INR has returned to growth after flashing read yesterday morning. At the time of writing, one British pound buys 96.373 Indian rupees, up 0.32% as of 6:10 AM UTC. This is the sixth bullish session in a row, as the price has managed to close higher on Tuesday. Pound to Indian Rupee peaked in the […]<\/p>\n","protected":false},"author":163946609,"featured_media":80615,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1394,2851,1666,1403],"class_list":{"0":"post-100994","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-inr","9":"tag-gbp","10":"tag-india-inflation","11":"tag-inr","12":"tag-trade-deal"},"acf":[],"yoast_head":"\nGBP\/INR Returns to Growth, Updates 3-Month Peak - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103381-gbp-inr-returns-to-growth-updates-3-month-peak\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anatol Antonovici\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103381-gbp-inr-returns-to-growth-updates-3-month-peak\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103381-gbp-inr-returns-to-growth-updates-3-month-peak\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c9c031720b5822c1d9bb63b59c6535ce\"},\"headline\":\"GBP\\\/INR Returns to Growth, Updates 3-Month Peak\",\"datePublished\":\"2020-06-10T06:46:30+00:00\",\"dateModified\":\"2020-06-10T07:57:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103381-gbp-inr-returns-to-growth-updates-3-month-peak\\\/\"},\"wordCount\":396,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103381-gbp-inr-returns-to-growth-updates-3-month-peak\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Awaiting-Inflation-Data-from-UK-India.jpg\",\"keywords\":[\"gbp\",\"India inflation\",\"inr\",\"trade deal\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103381-gbp-inr-returns-to-growth-updates-3-month-peak\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103381-gbp-inr-returns-to-growth-updates-3-month-peak\\\/\",\"name\":\"GBP\\\/INR Returns to Growth, Updates 3-Month Peak - 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