October 17, 2017 / 8:48 AM / 5 months ago

Sterling recovers after dipping on UK inflation data; stocks steady

LONDON, Oct 17 (Reuters) - Sterling recovered after dipped briefly after UK inflation data came in broadly line with forecasts on Tuesday, while stocks were roughly unchanged.

The British pound dipped to $1.3256 from $1.3277 before the data but quickly clawed back those losses to hold near the day’s highs by 0840 GMT, up 0.1 percent on the day at $1.3272.

Inflation data for September printed at 3.0 percent from a year-earlier, in line with forecasts.

In bond markets, gilt futures rose briefly towards session highs after the data before turning flat on the day. They were last trading at 124.16.

Britain’s FTSE 100 and mid-caps were broadly unchanged after inflation data. (Reporting by the London Markets Team; Editing by Jemima Kelly)

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