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UK: Annual CPI unchanged for the third running month at 2.7% in January

According to data released today by National Statistics, UK annual inflation rose by 2.7% in January, following +2.7% in December. Analysts' forecasts pointed to 2.8% growth. On a monthly basis UK CPI fell 0.5% in January, after climbing 0.5% in December, slightly below expectations of a 0.4% fall.

Year-over-year Core CPI rose 2.3% in January, down from +2.4% in December.

Forex: GBP/USD testing the 1.5600 level after UK data

The GBP/USD has plunged Tuesday surrounding the tranche of economic data recently released in the United Kingdom during the European session. After bottoming out in the 1.5574 region, the pair has recovered slightly towards the 1.5597/98 mark, whilst still incurring a loss of -0.38% today.
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