The Great Britain pound rose today as inflation remained above the central bank’s target, reducing probability of additional monetary easing by the Bank of England.
The Consumer Price Index rose 2.8 percent in March from a year. The increase was at the same rate as in previous month and in line with forecasts. The sterling weakened a bit on speculations that stagnating growth will spur the BoE to stimulate the economy despite inflationary pressure, but the currency recovered later.
GBP/USD rose from 1.5281 to 1.5306 as of 11:35 GMT today. GBP/JPY went up from 147.81 to 149.73 after falling to 146.37 earlier.
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