GBP/USD Trading Higher, PPI Rises

GBP/USD is trading at 1.2986, up 0.0106. The pair is trading very choppy and just under the session highs. Market talk about U.K. economic data, global central bank monetary policy and money flows is constant. The U.K. Office for National Statistics (ONS) reported that year over year input PPI (producer prices) rose 4.3 percent year over year in July versus a fall of 0.5 percent in June. Output PPI rose 0.3 percent year over year in July versus a fall of 0.2 percent in June. The agency reported the year over year July retail price index improved to 1.9 percent versus 1.6 percent in June. On the month the retail price index rose 0.1 percent versus June's rise of 0.4 percent.