Pound Sterling Rallies on Sticky UK Inflation, Challenges BoE Rate Cut Expectations

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The Pound Sterling (GBP) surged above the 1.2700 resistance level on Wednesday, following the release of UK inflation data for May. While headline inflation fell to the Bank of England’s (BoE) 2% target, sticky service sector inflation raised doubts about the central bank’s willingness to cut interest rates prematurely. UK Inflation Cools, But Service Sector […]