The Pound strengthened slightly to $1.2210 following reports of inflation remaining high in September, despite the BOE making a series of rate hikes over the past few months. GBPUSD gains were short-lived, as a stronger US Dollar became a stumbling block for the Pound. UK annual consumer price inflation held at an 18-month low of 6.7%, contrary to market expectations which forecast a slight decline to 6.6%, while the core rate fell less than expected to 6.1%. Meanwhile, labour data released earlier this week showed that overall payroll growth in the UK slowed from 8.5% to 8.1%, falling short of the projected 8.3%. In ... (full story)