(RTTNews) - As U.K.'s annual inflation exceeded 3%, the Bank of England Governor wrote an open letter to the Chancellor explaining the reasons why inflation has increased to such an extent. However, after the BoE Governor Mervyn King's letter was published at 5:30 am ET Tuesday, the pound was little changed against its major counterparts.
The U.K. CPI report released at 4:30 am ET showed that the annual inflation rose to 3.5% in January from 2.9% in December.
As of now, the pound is worth 0.8701 per euro, 141.26 against the yen, 1.5701 against the dollar and 1.6857 against the franc.
