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GBP/USD jumps as US inflation rises more then expected

The December UK CPI and RPI inflation reports have just been released. Core Annualised Consumer prices were expected to fall to around 4.9%, from a reading of 5.1% in November. Annualised retail prices were expected to fall to 6.1% in December, from a November rate of 6.3%. The actual data has revealed a higher reading on both counts. The one of most importance here would be the CPI data. Core prices have remains at 5.1% and the non-core rate has actually risen to 4%, from 3.9%. Both the monthly readings on CPI and RPI have risen above consensus too and all this has lifted the pound immediately. The GBP/USD jumped back to above 1.2640 on this news. It is currently trading at 1.2636

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