Image © Adobe Images

Soft undertones in the UK's monthly inflation report encouraged selling of pound sterling, but losses should be shallow.

The currency initially dropped across the board after it was reported UK CPI inflation declined to 3.6% year-on-year in October versus the 3.6% expected.

With inflation falling from September's peak at 3.8%, markets are betting the Bank of England is well placed to lower interest rates in December.

Compare Currency Exchange Rates

Find out how much you could save on your international transfer Amount From GBP USD EUR To EUR USD GBP

Estimated saving compared to high street banks:

£25.00 Compare Rates from Leading Providers →

Free • No obligation • Takes 2 minutes

The monthly figure was also on-target at 0.4% m/m. However, mont

See Full Page