Inflation rose in the UK to 2.2%, just below the 2.3% forecast.

This has put chances of cuts in Sept up slightly, nearing 47%.

This also has not really changed the picture for the GBP (VS the USD). Likely Markets are awaiting CPI out the FED.

Any shock miss could spell a string of issues for the US economy, and the US dollar.
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Gold fell sharply as the US jobless benefit data came in line with our expectations and the dollar also rose.
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