British pound sunk during Tuesday trading session against US dollar on official data, regarding consumer prices inflation in United Kingdom, which dropped for the first time during April since September.
GBP/USD pair fell to 1.5111, a lowest value since April 4th, after which was set at levels 1.5121-1.5130. Support was expected at April 3rd lowest value, 1.5074, while resistance was likely to be met at this sessions high, 1.5279.
This downward movement of the British currency was provoked after the Office for National Statistics (ONS) released data, concerning consumer inflation in United kingdom, which decelerated during April to 2.4% annually, while during the previous period inflation reading was 2.8%.
Another indicator, announced today, was the Core Consumer Price Index (CPI), which excludes food and energy prices. It also showed a slow down to 2.0% during April from 2.4% during March.
The ONS added that lower petrol and diesel prices accounted for almost half the decline in the annually evaluated rate of inflation.
Pound lowered against the euro, as EUR/GBP increased to 0.8499.
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