Dollar Edges Up, Sterling Slides on Inflation Surprise

Dollar Edges Up, Sterling Slides on Inflation Surprise
Banknotes of Japanese yen are seen in this illustration picture taken on June 15, 2022. Florence Lo/Illustration/Reuters
Reuters
Updated:
0:00

LONDON—The dollar edged up against other major currencies on Wednesday, while sterling fell sharply after British inflation data showed a slowing of the headline rate to its lowest in more than two years.

Sterling was the biggest mover among major currencies, after official data showed British inflation fell in November and came in well below expectations, causing markets to bring forward bets on when the Bank of England will cut interest rates.