GBP/USD Moves Up, CPI Rises

GBP/USD is trading at 1.2980, up 0.0101. The pair is trading just under the highs of the session. Trading is very choppy. Market talk about global money flows and European economic data is making the rounds. The U.K. Office for National Statistics reported that consumer prices (CPI) in the United Kingdom rose 0.6 percent year over year in July versus a 0.5 percent rise in June. On the month U.K. July CPI slipped to minus 0.1 percent versus a 0.2 rise in June.