UK CPI Ticks Higher To 2.5% In June

During today's London session, the main event was the UK's July inflation report.
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Wednesday, August 15 – London Session Recap

During today’s London session, the main event was the UK’s July inflation report. CPI was overall in line with expectations with just a marginal miss on Core CPI M/M.

CPI Y/Y ticked higher to 2.5% from 2.4% in June while Core CPI Y/Y remained unchanged at 1.9%. CPI M/M printed flat at 0.0% while Core CPI M/M printed at -0.1% versus market consensus of 0.0%.

Considering the data was overall as expected, GBP remained little changed following the release. As such, GBPUSD has traded sideways from yesterday’s decline, hovering just above the 1.27 handle.

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