LONDON (Reuters) - The pound jumped on Tuesday after data showed UK inflation neared the Bank of England's target in April, but did not slow as much as expected, leaving the chances of a June rate cut unchanged at around 50%.
Sterling was last up 0.3% at $1.274, having touched a new two-month high. Against the euro the pound strengthened to a one-month high, pushing the single European currency down 0.25% on the day to 85.2 pence.
(Reporting by Amanda Cooper; Editing by Dhara Ranasinghe)
