GBP/USD Edges Down, U.K CPI Eases

GBP/USD is trading at 1.2490, down 0.0030. The U.K. Office for National Statistics (ONS) reported that year over year consumer prices (CPI) in the United Kingdom rose 1.8 percent in January versus a 1.6 percent rise in December. On the month, U.K. January CPI fell 0.5 percent versus a 0.5 percent rise in December.