Figures out this morning from the ONS show a massive slowdown in the prices of goods and services purchased by UK consumers in September.
The Inflation figure fall from 1.5% in the previous month to 1.2% in this one, along with other economic shakes of recent weeks greatly slackens the pressure on the BoE and more than likely puts the date of an interest rate rise in the UK back even further in the new year.
Inflation is now at its lowest mark in five years sitting only a whisker above its lowest level of 1.1% following the financial crisis of 2008.
Cable is being hammered on the back of this data, ploughing through the 1.60 handle, now trading at 1.5962 and showing no signs of easing up.
For the full details of the release by the ONS please follow the link below: