The Great Britain pound fell today following the release of inflation data from the United Kingdom. The report showed that UK consumer prices remained flat during the previous month.
The Office for National Statistics reported that consumer inflation stayed zero in March. While other inflation indexes showed some growth, they were below expectations for the most part. The unfavorable data made the sterling to lose part of its previous gains (or in case of GBP/JPY to erase the Monday’s rally completely).
GBP/USD ticked down from 1.4675 to 1.4648 as of GMT 10:49 today, touching the low of 1.4603 intraday. GBP/JPY sank from 176.23 to 175.30, and its daily low of 174.87 was the weakest rate since October 31.
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