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That has done the trick.

A surprisingly hefty jump in UK annual inflation has given sterling wings.

At pixel time, the currency is now up by 0.85 per cent and counting on the day, to $1.2460 after year-on-year inflation came in at 2.3 per cent, from 1.8 per cent in January and above forecasts for a rise to 2.1 per cent.

(Chart: Bloomberg)

Copyright The Financial Times Limited 2017. All rights reserved.

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