Sterling steadies after UK inflation eases as expected

Consumer prince inflation fell to 3.6% in October from September's joint 18-month high of 3.8% as expected by the BoE and economists polled by Reuters, official figures showed on Wednesday. Sterling was unchanged against the dollar at $1.3148.

Sterling was little changed after British consumer price inflation fell to 3.6% in October, the first drop since May and one which offers some relief to the government and the Bank of England. Consumer prince inflation fell to 3.6% in October from September's joint 18-month high of 3.8% as expected by the BoE and economists polled by Reuters, official figures showed on Wednesday.

Sterling was unchanged against the dollar at $1.3148. The euro was up 0.09% against sterling at 88.16 pence, having traded as high as 88.64 pence on Friday, its highest since April 2023.