Pound jumps on upbeat UK inflation data

Source: FXstreet
© ScanPix/AFP
The Sterling soared against the Greenback as the rate of inflation in the UK rose above estimates. The Cable jumped 0.53%, hitting a session high of $1.5668. The CPI figure released on Tuesday showed that the inflation rate increased to 0.1% in July, beating a zero growth forecast, while the core CPI soared above estimates by 1.2% on an annual basis, its highest level in five months. 
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