Above: UK inflation has fallen but the pound exchange rate complex has nevertheless found some support.

The British pound (GBP) has seen relief offered by today's inflation numbers; markets had been fearing the figure would come in below the expected 1.6%; the relief has lead to increased buying.

"The disappointment in the falling CPI is being largely offset by rising wages in the U.K. The combination of falling inflation and rising wages improves the standard of living for Britons," says Omer Esiner at Commonwealth Foreign Exchange, "Tomorrow’s U.K. employment and wage data will be closely watched by market participants.

A look at the latest GBP rates shows:

Pound euro exchange rate: 1.1696Pound dollar exchange rate: 1.2795Pound Australian dollar: 1.9336Pound Canadian dollar rate: 1.7243British Pound New Zealand dollar rate: 2.0771