Pound gains traction against dollar as UK CPI accelerates; GBP/INR holds well above 129 mark

The British pound is gaining traction on Wednesday after UK CPI accelerated in line with the market consensus in August, while producer prices beat expectations. Consumer inflation accelerated to 0.5% in the UK in August from 0.3% in July, while the yearly CPI climbed to 3.1% from 2.9%, according to levels released by the UK Office for National Statistics. The...