Sterling stuck near 3-week low after inflation slowdown By Reuters
LONDON (Reuters) - Sterling hovered near a 3-1/2-week low against the dollar on Wednesday as UK inflation data showed a sharper slowdown than expected - though analysts said investors were focused more on the state of the labour market. Having fallen on Tuesday after a jump in the dollar, the pound was little moved by the inflation numbers, which investors believe will have little bearing on the rising trend for inflation. Derek Halpenny at MUFG said Wednesday's strong data from the labour market - a key determinant of future inflation - was "perhaps more important...
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