The British pound is extending losses around a one-week low on Wednesday after data showed UK inflation slowed more than expected. Data released by the Office for National Statistics (ONS) showed that the UK headline Consumer Price Index (CPI) rose 2.6% on yearly basis in June, compared to a rise of 2.8% in May. This figure came in softer than the market expectations of 2.7% growth. Meanwhile, the core CPI, excluding volatile food and energy items, climbed 2.6% on year in June. On a monthly basis, UK CPI inflation eased to 0.1% in June, down from 0.2% in May. Moreover, consistent gains in the dollar index, now holding near 101 mark, supported by higher Treasury yields and rising oil prices as the US carried out strikes on Iranian targets for an 11th consecutive night is also adding pressure on the counter. The GBP/USD pair is currently holding at $1.3381. On the NSE, GBP/INR futures are trading lower by 0.32% at 129.54. Powered by Capital Market - Live News |