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Currency Market News

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UK inflation falls Pound follows
17 July 2012

UK consumer inflation has fallen to its lowest level since 2009, according to figures out today. The Consumer Price Index fell to 2.4% in June, from 2.8% the previous month.

Inflation affects exchange rates, with lower CPI usually leading to a weaker Pound. This morning sterling fell against most other currencies on the release of the figures.

Against the Euro, rates for Euro money transfers* have recovered, but against the US Dollar we have lost half a cent in trading today. However, weak US data yesterday did give the USD rate a boost.

Tomorrow sees the release of UK unemployment figures and the Bank of England minutes, both of which are likely to have an effect on exchange rates.

* To make Eurozone money transfers you will need your beneficiary's IBAN and BIC code - for more information see our page entitled What is an IBAN? For a quote from an FSA regulated broker, simply complete your details at the top of the page and we will put you in touch.

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