LONDON, June 13 (Reuters) - Sterling steadied around $1.27 on Tuesday after UK inflation numbers came in above forecast, further complicating an outlook that shows the economy slowing but prices rising much faster than the Bank of England’s 2 percent target.
In a see-saw reaction to the numbers, the pound hit a day’s high of $1.2717 before retreating to $1.2695 in the minutes that followed, still up 0.3 percent on the day and only slightly down from before the data’s publication.
By 0843 GMT, it was also up 0.2 percent on the day at 88.29 pence per euro.
British government bond futures also see-sawed on the figures and last stood at 128.39, down 17 ticks on the day - similar to their level before the data. London’s FTSE share index was unchanged. (Reporting by Patrick Graham and Ritvik Carvalho)