FXStreet (San Francisco) - The Sterling is trading down against the US dollar following the US CPI data that matched expectations. The GBP/USD broke down the 1.7055 level in the latest few minutes to trade at lows since June 18 at 1.7050.
The yearly inflation in the US came at 2.1% in June while the CPI ex food and energy declined to 1.9% from the 2.0% published in the last month.
Below the 1.7050, the GBP/USD would face supports at 1.7035, 1.7005 and 1.6950. On the upside, 1.7080, 1.7100 and 1.7115.