The UK CPI y/y figure landed at 06:00 UTC on 16 September 2026, and sterling drifted lower in the first half hour. The biggest reaction came in GBP/JPY, which slipped 0.18%.
Where the GBP moved
GBP/JPY led the retreat, easing from 209.412 to 209.047, a 0.18% decline over the 30 minutes since the release.
GBP/USD was close behind, softening 0.15% from 1.34979 to 1.34783.
Elsewhere the moves were smaller. GBP/AUD dipped 0.06% from 1.8922 to 1.8910, and GBP/CAD edged down 0.05% from 1.87875 to 1.87784.
GBP/NOK bucked the trend, firming 0.08% from 12.58507 to 12.59478. GBP/SEK was essentially flat, down 0.02% from 13.17910 to 13.17672.
What the reaction shows
The reaction was contained and skewed to the downside for the pound. Sterling’s softest performance came against the yen and the dollar, where the two most-watched crosses posted the clearest moves.
Against the commodity currencies and the Scandinavian pair, the response was muted, with GBP/NOK the lone gainer and GBP/SEK barely changed.
Overall, this was a modest, orderly repricing rather than a sharp swing, with the notable action concentrated in GBP/JPY and GBP/USD.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
