Pound US dollar exchange rate: GBP/USD flat as US inflation rebounds

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THE pound was left flat against the US dollar today as US inflation rose, leaving the pairing trading around $1.283.

The dollar was static on Wednesday as data revealed US inflation rebounded by more than expected in October. Rising consumer price pressures might deter the Federal Reserve from making further rate cuts in the near future, so the news provided USD exchange rates with some underlying support. The Labor Department revealed the largest gain in the US Consumer Price Index since March, as households paid more for energy products, food and healthcare, pushing the index up by 0.4 percent.

 

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