The United Kingdom (UK) Consumer Price Index (CPI) rose 2.5% year-over-year (YoY ... holding below 30. Therefore, the pair appears primed for a brief recovery in the near term.” ...

The Monetary Policy Committee (MPC) of the Bank of England holds a similar target as the US of achieving a 2% inflation rate.

The Pound Sterling rebounds after a softer-than-expected UK CPI report for December. Soft UK inflation data would prompt traders to price in a higher number of BoE interest rate cuts for the year.

On an annual basis, prices rose 3.2%. Prior to December's print, core CPI had been stuck at a 3.3% annual gain for the past four months. It was the first time since July that year-over-year core CPI ...