{"id":109076,"date":"2021-03-25T09:00:47","date_gmt":"2021-03-25T09:00:47","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=109076"},"modified":"2021-03-25T11:49:34","modified_gmt":"2021-03-25T11:49:34","slug":"gbp-inr-pair-snaps-5-session-losing-streak","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/gbp-inr-pair-snaps-5-session-losing-streak\/","title":{"rendered":"GBP\/INR: Pair Snaps 5 Session Losing Streak"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rebounds after weak inflation data<\/strong><\/li>\n<li><strong>BoE Andrew Bailey due to speak<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) rises despite surging covid cases &amp; equities falling<\/strong><\/li>\n<li><strong>WTI rebounds 4%<\/strong><\/li>\n<\/ul>\n<p>The Pound Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">GBP\/INR)<\/a> exchange rate is attempting to claw higher, snapping a 5 session losing streak. The pair settled -0.40% lower on Wednesday at 99.37 towards the low of the day. At 08:45 UTC, GBP\/INR trades +0.1% at 99.41.<\/p>\n<p>Disappointing UK inflation data overshadowed better than expected PMI figures and sent the Pound tanking lower on Wednesday.<\/p>\n<p>UK inflation increased 0.1% in February month on month, following a -0.2% decline in January. However, it was significantly less that the 0.5% forecast. On an annual basis, consumer prices rose just 0.4%, down from a 0.7% rise in January and 50% below the 0.8% expected. The weak reading came as clothing was heavily discounted, dragging the Pound lower.<\/p>\n<p>Better than forecast PMI data failed to lift the Pound out of negative territory on Wednesday. Data from IHS\/Markit showed that UK business activity jumped in March, lifted by stronger consumer confidence ahead of the UK economy reopening.<\/p>\n<p>The initial reading for the composite PMI spiked to 56.6 in March, up from 49.6 last month. The level 50 separates expansion from contraction.<\/p>\n<p>Today the UK economic calendar is quiet. Bank of England Governor Andrew Bailey is due to speak which could drive movement in the Pound.<\/p>\n<p>The Rupee strengthened despite concerns over rising covid cases in India. A second wave appears to be spreading across the country, with the highest number of covid cases bring reported in 4 months.<\/p>\n<p>Fears over the impact that another lockdown could have on the Indian economic recovery dragged on demand for Indian equities. The Sensex and the\u00a0 Nifty 50 both ended almost 2% lower, with financials under the most pressure.<\/p>\n<p>Oil prices also jumped sharply as the rollercoaster week for oil continues. West Texas Intermediate tanked 6% on Tuesday on covid inspired demand fears. WTI crude then jumped 4% in the previous session, support by the blockage in the Suez Canal.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rebounds after weak inflation data BoE Andrew Bailey due to speak Indian Rupee (INR) rises despite surging covid cases &amp; equities falling WTI rebounds 4% The Pound Indian Rupee (GBP\/INR) exchange rate is attempting to claw higher, snapping a 5 session losing streak. The pair settled -0.40% lower on Wednesday at 99.37 towards [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":76446,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1394,1861,1666],"class_list":{"0":"post-109076","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-gbp-inr","11":"tag-inr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/INR: Pair Snaps 5 Session Losing Streak - 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\/gbp-inr-pair-snaps-5-session-losing-streak\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\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\\\/gbp-inr-pair-snaps-5-session-losing-streak\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-inr-pair-snaps-5-session-losing-streak\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/INR: Pair Snaps 5 Session Losing Streak\",\"datePublished\":\"2021-03-25T09:00:47+00:00\",\"dateModified\":\"2021-03-25T11:49:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-inr-pair-snaps-5-session-losing-streak\\\/\"},\"wordCount\":333,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-inr-pair-snaps-5-session-losing-streak\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Pair-Trading-Flat-in-Early-Session.jpg\",\"keywords\":[\"gbp\",\"gbp\\\/inr\",\"inr\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-inr-pair-snaps-5-session-losing-streak\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-inr-pair-snaps-5-session-losing-streak\\\/\",\"name\":\"GBP\\\/INR: Pair Snaps 5 Session Losing Streak - 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