Archived IMT (2009.12.16)

Today's US Nov CPI (13:30 GMT) is expected +0.4% m/m from +0.3% (exp +1.8% y/y from -0.2%y/y), while core CPI expected at 0.1% from 0.2% (1.7% y/y frpm 1.7% y/y). Any upside surprise is likely to boost USD via higher yields and raise speculation the FOMC may change the wording with regards to inflation from the current description of subdued. GBP is higher after UK unemployment fell for the first decline in 9 months. EURGBP drops to 0.89 target, GBPUSD faces resistance at $1.6420.