British Pound Has Decreased After Weak Inflation Data

The US dollar falls sharply after the failure of voting for the Trump’s health care bill. The British pound has weakened after the release of inflation data. Meanwhile, the Australian dollar remains the strongest major currency today.

Inflationary data from the UK turned out to be much lower than expected. The consumer price index in the UK slowed to 2.6% year-on-year in June. Core CPI slowed to 3.4% year-to-year. These data may put considerable pressure on the Bank of England with regard to raising the interest rate in the short term.

German ZEW economic sentiment fell to 17.5 in July. Eurozone ZEW economic sentiment decreased to 35.6.