GBP/JPY stuck near 183.00 after UK CPI disappoints

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• The GBP/JPY is stuck in the middle near 183.00 as markets await inspiration.
• UK CPI came in less than expected, and investors will be pivoting to keep an eye on the BoE next.
• UK inflation appears to be easing off faster than markets expected, trapping the BoE into one more rate hike.

The GBP/JPY is strung along the 183.00 handle in Wednesday trading. The United Kingdom’s (UK) inflation reading during the European market session failed to bolster the Pound Sterling (GBP) after the headline printing failed to meet the mark. Guppy traders will now be keeping their heads low ahead of Thursday’s Bank of England (BoE) showing.