The Great Britain pound fell against the US dollar today as UK inflation slowed last month, missing analysts’ expectations. The currency managed to trim its losses and was able to gain on the Japanese yen.
Great Britain’s Consumer Price Index was up 1.5 percent in May from a year ago compared to the growth of 1.8 percent in April. Specialists expected a minimal drop to 1.7 percent. Most other reports from the United Kingdom were also disappointing today with the exception of the house price report that was better than experts have predicted.
GBP/USD went down from 1.6983 to 1.6938 before trading at 1.6961 as of 12:43 GMT today. GBP/JPY rose from 172.94 to 173.25.
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