GBP/USD Moves Up, U.K. CPI Rises
GBP/USD is trading at 1.2257, up 0.0038.
The pair is trading very choppy.
The U.K. Office for National Statistics reported that year over year consumer prices (CPI) in the United Kingdom rose 1.0 percent year over year in September versus a 0.6 percent rise in August. On the month U.K. CPI rose 0.2 percent versus a 0.1 rise in August. It was the highest level of inflation since November 2014.
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