GBP/USD: UK CPI

The British Pound appreciated against the US Dollar, following the UK CPI data release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate gained 13 pips or 0.11% right after the release. The British Pound continued trading at the 1.2585 level against the Greenback.

Office for National Statistics released the UK CPI data, which came out in line with expectations of 2.0%.

According to the official release: "Falling fares for transport services, particularly air fares influenced by the timing of Easter in April, and falling car prices produced the largest downward contributions to the change in the rate between April and May 2019. Partially offsetting upward contributions came from rising prices for a range of games, toys and hobbies, furniture and furnishings, and accommodation services."