Day: July 17, 2024

GBP/USD Soars to Fresh Yearly Highs as Sticky UK Inflation Boosts Rate Hike Bets

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The British Pound (GBP) surged to a new yearly high above 1.3000 against the US Dollar (USD) on Wednesday, fueled by higher-than-expected UK inflation data for June. The persistent price pressures, particularly in the service sector, have solidified expectations of further interest rate hikes by the Bank of England (BoE). Market Reactions and Outlook The […]

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