Pound remained well bid against the dollar, briefly hitting a three-and-a-half month high following stronger-than-expected CPI inflation data. Official figures showed the key annual CPI rate jumping to 3.8 percent in June from 3.3 percent in May, beating forecasts for a more moderate rise to 3.6. "The punchy headline number is likely to ensure that the pound remains well bid for now," -said Daragh Maher, senior forex strategist at Calyon. The data has kept in place expectations that the Bank of England is unlikely to cut interest rates before the end of the year while inflation remains well above its 2.0 percent target.