Sterling edged back above $1.30 on Wednesday after data showed British inflation unexpectedly hitting a six-month high in January, confirming expectations that the Bank of England would not be cutting interest rates any time soon.
Consumer prices rose at an annual rate of 1.8% compared with 1.3% in December, not far off the Bank of England's 2% target, the Office for National Statistics said. A poll of economists had pointed to a rate of 1.6%.
The pound which had traded below the $1.30 mark in early London trade, rose back into positive territory after the data and stood at $1.3017, up 0.16% on the day. Currently, GBP is trading at $1.3006. Versus the euro, the pound had started the day down 0.25% but rose back to trade flat against the single currency.
13 Jul 2020 04:57 PM
Indian shares ended higher on Monday, led by a rally in Reliance Industries, ahead of June's inflation data which investors bet would lead to further interest rate cuts by the central bank.
13 Jul 2020 02:43 PM
The Indian rupee was little changed against the greenback, amid focus on decline in the dollar index
13 Jul 2020 11:45 AM
Indian shares climbed on Monday, as investors bet June inflation data later in the day would lead to further interest rate cuts by the country's central bank, while Reliance Industries gained for a third session.
13 Jul 2020 11:15 AM
The yuan hovered around the key 7 per dollar threshold on Monday, ahead of economic data this week
13 Jul 2020 10:45 AM
Gold prices rose on Monday, holding ground above the key $1,800/oz level, as a weaker dollar and worries over surging COVID-19 cases around the globe kept the safe-haven metal underpinned.
13 Jul 2020 10:31 AM
The Indian rupee was at 75.1275/75.1375 to the dollar against 75.2000/75.2100 in the previous session