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GBP/USD lifts towards 1.30 as UK CPI unchanged in June
The UK June CPI and RPI inflation reports have just now been released. The markets were expecting a very slight drop back in both CPI and RPI last month. Well, that is not what we just got because annualised CPI has remained at 2%. The core annualised rate has also remained at 3.5% and the services has not dropped either, remaining sticky at 5.7%. The RPI did drop back as expected though, but that has not stopped the Pound from rising on this news. The GBP/USD has jumped close to that 1.30 handle again and that looks like the level in the sand again this morning. The GBP/USD is right now trading at 1.2980
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