GBP/USD: UK CPI

The British Pound traded sideways against the US Dollar, following the UK CPI data release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate lost 10 pips or 0.08% right after the release. The British Pound continued trading at the 1.2670 level against the Greenback.

Office for National Statistics released the UK CPI data, which came out worse-than-expected of 2.1% compared with forecast 2.2%.

According to the official release: "Rising energy prices and air fares, which were influenced by the timing of Easter, produced the largest upward contributions to change in the rate between March and April 2019. The largest, offsetting, downward contribution came from across a range of recreational and cultural items, which included computer games and package holidays."