Sterling gains after surge in UK inflation

Published on January 18, 2011 by IFX | NEWS   ·   No Comments   Sterling extended gains on Tuesday, hitting an eight-week high versus the dollar after a surge in consumer price inflation     fuelled expectations that UK interest rates may need to rise soon. Rising oil prices drove annual CPI growth up far more than expected in December to an eight-month high of 3.7 percent, data showed, well above the...