BoE likely to follow Fed's rate hike

U.K. consumer price data is likely to release today. The consumer price data will confirm whether the Bank of England (BoE) will follow the Fed's rate hike. Analysts assume that BoE may hike rates some time after Fed's hike. However, the Bank is expected to do so iflation rate is in right path. 

"If the data today disappoints Sterling is likely to record some losses against the USD for a change, after it has stood up well against it since the beginning of the year", says Commerzbank.