STERLING SLIPS AFTER SHARP FALL IN BRITISH INFLATION

Sterling fell against the dollar and euro after data showed British inflation fell in November and came in well below expectations, causing markets to bring forward bets on when the Bank of England will start cutting interest rates.

The pound was last down 0.56% at $1.2659, having been down around 0.15% immediately before the data . It also softened versus the euro, which was up 0.43% at 86.62 pence. British annual consumer price inflation fell to 3.9% in November from 4.6% in October, the lowest pace since September 2021.

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