GBP/USD Trading Higher, U.K. Inflation Edges Up

GBP/USD is trading at 1.2122, up 0.0088. The pair is trading choppy. U.K. Prime Minister Theresa May is scheduled to speak about the U.K. approach to Brexit talks with the European Union later this morning. The U.K. Office for National Statistics reported that consumer prices (CPI) in the United Kingdom rose 1.6 percent year over year in December versus a 1.2 percent year over year rise in November. On the month U.K. December CPI rose 0.5 percent versus a 0.2 percent rise in November.