Weak UK Inflation Causes Pound To Slump – 23 May, 2018

Sterling fell to its lowest since December to $1.3305, erasing all 2018 gains, as data shows annual consumer price inflation is at its weakest increase in over a year, steadying at 2.4 percent. The pound is headed for its biggest daily loss in three weeks as it sits at $1.3341, down 0.7 percent, and doubts about an interest rate hike and a clean Brexit break have become increasingly high.