GBP/USD stays largely unmoved; UK annual CPI steadies at 3.8%

The British pound is staying largely unchanged against the dollar on Wednesday morning in Asia following data that showed UK annual consumer price inflation came in steady at 3.8% in August. Meanwhile, annual core inflation rate eased to 3.6% in August from 3.8% in the previous month, marking the lowest reading since May. On a monthly basis, core consumer prices increased 0.3%, slightly faster than a 0.2% rise in July. GBP/USD pair is quoting at $1.3648, down 0.10% on the day tracking mild gains in dollar index ahead of Federal Reserve decision due later in the global day. US retail sales rose by 0.6% on monthly basis in August, the same growth as the previous month and exceeding forecasts of 0.2%. However, broad weakness in dollar in recent times has led the GBP/USD pair hover around an eleven week high. On the NSE, GBP/INR futures are trading marginally lower just below 120 mark.

 

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