Sterling trims gains after UK inflation jump

Sterling handed back some of its early gains on Tuesday after data showed UK inflation jumped more than expected last month, driving another round of sales of UK government bonds.
The pound initially gained a quarter of a cent after the numbers, which showed consumer prices increased by 1 percent last month on the year, above expectations of an 0.8 percent rise. Some say it might further discourage the Bank of England from cutting interest rates.
But the biggest jump in inflation in two years also adds to broader nerves over the UK economy's response to the uncertainty generated by... read more