The Pound Sterling (GBP) fell sharply after the United Kingdom’s Office for National Statistics (ONS) reported a significant decline in inflation in November.
The GBP/USD is capped below 1.2680 after a below-expectations print of UK Consumer Price Index (CPI) inflation sent the Pound Sterling (GBP) lower against the US Dollar (USD), dragging the pair down through the 1.2270 handle and pinging 1.2630.