In the US, focus was on CPI which increased at a below forecast 0.3% in August, according to the Labor Department. The lower than expected CPI figures come ahead of next week’s Fed meeting and the chances of tapering to begin next week now seem very unlikely.
GBP/USD was higher in the wake of the two data releases with the pair trading above 1.39 for the first time since 6th August. EUR/GBP dropped to a three-week low following the UK data.
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