{"id":120071,"date":"2021-08-18T15:55:08","date_gmt":"2021-08-18T15:55:08","guid":{"rendered":"https:\/\/fin2me.com\/?p=120071"},"modified":"2021-08-18T15:55:08","modified_gmt":"2021-08-18T15:55:08","slug":"sterling-stuck-near-3-week-low-after-inflation-slowdown","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/sterling-stuck-near-3-week-low-after-inflation-slowdown\/","title":{"rendered":"Sterling stuck near 3-week low after inflation slowdown"},"content":{"rendered":"<figcaption>FILE PHOTO: A British Pound banknote is seen in front of displayed stock graph in this illustration taken May 7, 2021. REUTERS\/Dado Ruvic\/Illustration<\/figcaption><p>LONDON (Reuters) &#8211; Sterling hovered near a 3-1\/2-week low against the dollar on Wednesday as UK inflation data showed a sharper slowdown than expected &#8211; though analysts said investors were focused more on the state of the labour market.<\/p>\n<p>Having fallen on Tuesday after a jump in the dollar, the pound was little moved by the inflation numbers, which investors believe will have little bearing on the rising trend for inflation.<\/p>\n<p>Derek Halpenny at MUFG said Wednesday\u2019s strong data from the labour market &#8211; a key determinant of future inflation &#8211; was \u201cperhaps more important as it revealed another strong print that in our view reinforces the prospect of a rate hike cycle commencing in the second half of next year.\u201d<\/p>\n<p>The pound was at $1.3760, off Tuesday\u2019s trough of $1.3726, which was the lowest since July 23.<\/p>\n<p>Against the euro, the British currency steadied. It was up 0.1% at 85.105 pence but still close to two-week lows reached on Tuesday.<\/p>\n<p>British inflation fell to the Bank of England\u2019s 2% target last month, a slowdown that economists said was most likely a blip as the reopening of the economy after lockdown drives prices higher.<\/p>\n<p>Economists polled by Reuters had expected a 2.3% rise in consumer prices following a 2.5% rise in June.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/britain-sterling\/update-1-sterling-stuck-near-3-week-low-after-inflation-slowdown-idUSL1N2PP0SL\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: A British Pound banknote is seen in front of displayed stock graph in this illustration taken May 7, 2021. REUTERS\/Dado Ruvic\/IllustrationLONDON (Reuters) &#8211; [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":120070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sterling stuck near 3-week low after inflation slowdown - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/sterling-stuck-near-3-week-low-after-inflation-slowdown\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sterling stuck near 3-week low after inflation slowdown - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: A British Pound banknote is seen in front of displayed stock graph in this illustration taken May 7, 2021. 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