Core inflation in the UK is higher than market expectations

The British economy released on Wednesday morning the annual total consumer price index, rising by 2.9% in July, in accordance with market expectations that indicated a rise of 2.9%, higher than the previous reading of a rise of 2.6%.

The annual core consumer price index was also released at an increase of 2.6%, higher than market expectations, which indicated a rise of 2.5%, with the same previous reading, which recorded an increase of 2.6%.

This data shows a resurgence

Inflationary pressures on monetary policy makers at the Bank of England, and enhance the possibilities of raising British interest rates this year.

•The US dollar resumes its losses against a basket of currencies. US yields slow ahead of the Federal Reserve’s minutes. Markets are awaiting decisiveness about the path of British interest rates.

•Japanese currency rises from lowest levels in 3 weeks •Dollar resumes losses ahead of Federal Reserve minutes •Authorities

Cash is closely monitoring the movements of the Japanese currency. Markets are awaiting new evidence about the path of Japanese interest rates

Wall Street closed lower on Tuesday, with semiconductor stocks leading losses in the technology sector, after uncertainty in the Middle East pushed bond yields to multi-year highs, stoking concerns about borrowing costs and inflation.