UK CPI Confirmed at 3.3% on Fuel Surge; GBPUSD Holds Above SMAs, Targets 1.3584

UK CPI rose to 3.3% y/y in March with +0.7% m/m, driven by motor fuels +8.7% m/m and +4.9% y/y from Iran conflict fallout, while core eased to 3.1% but PPI inputs surged +4.4% m/m. Forecasts from April 20 of a 3.3% print due to energy shocks (+0.4pp impact per Goldman Sachs) materialized, boosting BoE tightening odds. GBPUSD recovered above 100-day SMA (1.3455) and 200-day (1.3413), eyeing 1.3584 resistance amid higher-for-longer rates narrative.