Wednesday data showed June UK inflation slowed more than expected, reducing the likelihood of further Bank of England rate hikes and pressuring the pound. Headline CPI fell to 2.6% in June; core CPI remained at 2.6%, versus economists' forecasts of 2.7% and 2.5% respectively. Aberdeen Standard Investments economist Felix Feather said household energy bills have not yet fully reflected this summer's energy-price shock and that Ofgem's higher price cap will push inflation up in coming months.