Inflationary pressure has held firm at 2.4 per cent in June, leaving sterling weaker by around 0.3 to 0.5 per cent against key currency peers as markets see lower chances of an August interest rate hike. Sterling, also hampered by the ongoing political disquiet surrounding Brexit, is now at its lowest against the US dollar since September of last year. Whilst higher energy and transport costs helped add to pressure to the consumer price index (CPI), the overall figure was detracted by falling food, clothing and recreation costs. With wage growth remaining muted and inflation flattening in June, low unemployment may not be enough to lead the Bank of England to hike interest rates at its next meeting. This has in turn made the pound less attractive, causing it to be sold, whilst UK government debt has become more attractive and thus was being bought today. The FTSE All Share, however, closed up around 0.6 per cent, aided by a weaker home currency.