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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 15/Jan 15:26

Rally in UK gilt yields pauses after soft inflation data

The EURGBP pair edged lower to 0.8440 in Wednesday’s North American session, as the five-day rally in the cross that was built on surging yields on UK gilts appears to be losing fuel. The 30-year gilt yields tumbled from their more-than-26-year high of 5.47% to 5.38% after the release of the soft Consumer Price Index (CPI) report for December, which led to a recovery move in the Pound Sterling. The UK CPI report showed that the core inflation – which excludes volatile items, such as food, energy, oil, and tobacco – grew by 3.2%, slower than estimates of 3.4% and the former reading

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