The British pound weakened against other major currencies in the European session on Wednesday, following the release of U.K. consumer inflation data in May.
Data from the Office for National Statistics showed that the U.K. consumer price inflation remained stable in May. Consumer prices registered an annual increase of 2.8 percent, the same rate as seen in April. Prices were expected to climb 3.0 percent.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.