Sterling Slips To Day’s Lows after UK Inflation Data
Tuesday,
16-Jan-2018
04:31 PM (IST)
Sterling slid to the day’s lows against the dollar on Tuesday after data showing that UK inflation slowed in December for the first time in six months, meaning that Britain’s cost of living squeeze eased.GBP/USD was at 1.3756, pulling further away from Monday’s peaks of 1.3819, the strongest level since Britain’s vote to exit the European Union in June 2016.The consumer price index slowed to an annual rate of 3.0% last month the Office for National Statistics reported, down from November’s six-year high of 3.1% and the first decline since June.
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