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Sterling jumps as UK inflation continues to run at double-digits

The report here pretty much seals the deal of another 25 bps rate hike by the BOE next month, as inflation continues to run hot and sticky in the UK economy. This just piles on the pressure on policymakers after wages data also surprised higher yesterday here.The pound is getting a lift on the day, with cable jumping from around 1.2415 to a high of 1.2443 before holding just below that now.Looking at the near-term chart above, the 200-hour moving average (blue line) is a key point of focus now,... Read More

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Content Topics

Sterling

Jumps

Inflation

Continues

Double

Digits

Double digits

Forex

Posted: Apr 19 2023, 06:11

Author Name: forexlive

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