Pound Falls On Soft U.K. CPI Data

The British pound weakened against other major currencies in the European session on Wednesday, after U.K. inflation slowed more than expected in November. Data from the Office for National Statistics showed that the consumer price index rose 3.2 percent year-on-year, slower than the 3.6 percent increase in October. Inflation was forecast to ease marginally to 3.5 percent.On a monthly basis, the CPI dropped 0.2 percent, in contrast to the 0.4 percent rise posted in October. Prices were expected to remain f ...