British Sterling erases CPI driven losses

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The main risk for the day was the UK's inflation data which dipped below consensus. Headline inflation, year on year dipped to 0.5% December, a considerable decline off from the BoE's 2% inflation target. Core CPI y/y however was stable at 1.3% as expected and slightly higher from 1.2% in November. On a monthly basis, CPI remained flat at 0%, below consensus estimates of 0.1%, after the decline...

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