Pound Sterling eased against the dollar and euro on Thursday, extending losses on signs the UK economy will experience a notable slowdown in the coming months, leading investors to pare back expectations for further Bank of England tightening.
The Pound's Looming Inflation Headache
- Category: GBP
Core and services CPI inflation are still uncomfortably high.
U.S. President Donald Trump cancelled his strikes on Iran, sending oil prices hurtling lower and helping the pound stage a recovery.
The British pound trades near multi-month highs against the dollar and euro as traders see risks of a renewed inflationary impulse.