GBP/USD fell as inflation slowed
GBP/USD fell to $1.6623, the lowest level since the beginning of April closing this week’s opening gap.
Pound weakened as the UK inflation data came lower than expected. Note though that the inflation (1.6%) is still rather close to the Bank of England's 2% target. Further dynamics of GBP will depend on the market's expectations ahead of the BoE's minutes release on Wednesday, 08:30 GMT).