The Sterling weakened against the US Dollar on the row of mixed economic data releases for Britain on Tuesday. The GBP/USD currency pair lost 22 base points or 0.16% to fall slightly ahead of entering the resistance zone near the 1.3825 level.
The UK inflation eased slightly from its post-Brexit record high in December, official report revealed, indicating that the financial squeeze on households is likely to weaken. Britain’s consumer price inflation declined to a yearly rate of 3.0% in December from almost six-year high registered in the previous month. The BoE anticipated inflation to fall gradually over the next two to three years to the 2% target, while many economists revealed expectations for a faster decline in a year.
