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GBP/USD slides as UK inflation falls by more than expected

The UK November CPI and RPI inflation reports have just now hit the screens. As noted here a little earlier, the markets were expecting contrasting data, in terms of the monthly and annualised readings on both counts. Well, that is not what has happened, as both the monthly and annualised readings have fallen in both CPI and RPI.CPI has fallen by 0.2% in November. The annualised reading has dropped to just 5.1%. It is the same for RPI too. That has dropped 5.3% annualised, from 6.1%. The GBP/USD has fallen sharply on this news, dropping to a low at 1.2658 immediate upon seeing this data. The pound is just now trading at 1.2677

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