Pound Pares Gains as Inflation Slows

The Great Britain pound was rising today, but pared gains after data showed that Britain’s consumer inflation unexpectedly slowed last month, though not very much.

The Consumer Price Index rose 2.1 percent in November from a year ago, while analysts have hoped that the rate of growth would stay at October’s 2.2 percent. There were some other worse-than-expected data from the United Kingdom today. At the same time, there were good reports too. Among them was a report that showed an annual increase of house prices by 5.5 percent in October, which exceeded expectations.

GBP/USD was up from 1.6296 to 1.6335, but retreated back to the opening level as of 11:16 GMT today. GBP/JPY rose from 167.86 to 168.15, but slipped to 167.77 later.

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