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UK CPI ticks higher in July, beats estimates

The UK consumer prices rose 0.6% y/y in July from 0.5% seen a month before, matching market forecasts of 0.5%, the Office for National Statistics (ONS) revealed on Tuesday.

While the core inflation gauge eased a bit to 1.3% in July versus 1.4% last, although came in line with expectations.

On monthly basis, the UK inflation figures came in line with expectations, dipping -0.1% in July versus 0.2% seen previously.

United Kingdom Consumer Price Index (YoY) above expectations (0.5%) in July: Actual (0.6%)

United Kingdom Consumer Price Index (YoY) above expectations (0.5%) in July: Actual (0.6%)
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GBP/USD clinches 1.2960 on CPI

The Sterling is now following the rest of the risk-associated assets on their way up on Tuesday, sending GBP/USD to test session highs near 1.2970. G
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