Pound traders sighed in relief, as sterling gained ground, albeit modestly, against other currencies on Wednesday morning. A string of better than expected inflation data painted a rosier image of the British economy than some were bracing for. Today’s gains for the Pound follow several consecutive sessions of losses against the Euro and the Dollar, with the markets seeing positive undertones in the UK March inflation data. Or to put it another way, while the year-on-year inflation at 1.5% is not great, at least there were no nasty surprises.
