• The U.K. pound remained at bargain levels for U.S. importers despite the greenback's pulling away from broader multiyear peaks. Sterling stuck below $1.50 and not far from five-year lows after area inflation deteriorated to a reading of zero for last month which marked a new record low. Inflation was forecast to hold a speck above zero (0.1 percent) in the latest period after its anemic 0.3 percent reading in Jan. 
  
  
• U.K. inflation now appears at imminent risk of tipping below zero and thus further away from the Bank of England's 2 percent goal. From a central bank policy perspective, at best U.K. interest rates appear destined for a longer period of low levels. 
  
  
• At worst, today's poor inflation data nudge the door open a little wider to the prospect of a rate cut as the next move.