The pound strengthened as the latest report showed inflation in the country fell to a 15-month low. Closing this session, the pound was trading at 1.2725 USD to 1 pound compared to 1.2705 USD to 1 pound previously.
However, experts point out that the UK has the highest inflation rate of any member state of the Group of Seven leading industrialized nations (G7) and the reduction may not be enough to prevent another Bank of England (BoE) rate hike next month.
However, experts point out that the UK has the highest inflation rate of any member state of the Group of Seven leading industrialized nations (G7) and the reduction may not be enough to prevent another Bank of England (BoE) rate hike next month.
