UK CPI inches higher
Data released for the UK CPI showed that throughout the month of July came out at 0.0% against the previous and expected -0.1%.
The Yearly figure rose to 4.4% from the previous 4.2% and the expected 4.3%.
Increasing inflationary pressures pose a dilemma for the BoE, at a time when it is still considering further easing.
GBP/USD rose to 1.6353 minutes after the release from around 1.6330 levels prior to the release. The currency pair is currently trading at a price of 1.6346.
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