Sterling rises after unexpected inflation data

Sterling rose against most major rivals following unexpected inflation data in the UK.

UK data showed consumer prices rose 10.1% in March, compared to a 10.4% increase in February, while analysts expected a 9.8% drop.

UK data also showed wages grew less than expected in the three months ending March.

Such data explain why Bank of England remains on a path of aggressive policy tightening and rate hikes to control inflation.

On trading, GBP/USD rose 0.1% as of 19:34 GMT to 1.2438. 

Loonie

CAD/USD fell 0.5% to 0.7430 as of 19:39 GMT. 

Aussie

AUD/USD fell 0.2%% to 0.6718 as of 19:39 GMT. 

Greenback

The dollar index rose 0.2% to 101.9 as of 19:30 GMT, with a session-high at 102.2, and a low at 101.6. 

Investors continue to monitor latest corporate earnings results for the first quarter of the year.