UK inflation hit 3% as expected; core and services stayed firm, limiting rate cuts amid rising costs.
WTI rebounded near $88, then eased as truce talks eased fears; Saudi exports rose, US stocks built.
European markets edge higher; ceasefire and Hormuz reopening reports watched, ahead of Germany IFO and US trade prices.
TD Securities says dollar may keep rising on risk premia, but war off-ramp could weaken it.
UK inflation holds at 3.0% in February; core rises to 3.2%, pushing GBP/USD slightly lower.
UK Producer Price Index output fell 0.5% in February, missing forecasts of a 0.2% monthly rise.
UK core output producer price index fell 0.8% in February month-on-month, reversing January’s 0.2% increase.
UK output producer prices rose 1.7% year-on-year in February, undershooting the 2.6% market forecast.
UK core consumer price inflation rose 3.2% year-on-year in February, beating the 3.1% forecast, remaining elevated.
UK CPI inflation rose 0.4% in February, matching forecasts, indicating monthly consumer prices increased from January.
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