The pound jumped to a one-year high above $1.30 on Wednesday after data showed UK inflation came in slightly above expectations last month, just as investors bet on the Federal Reserve to start cutting interest rates.
The UK consumer prices index was unchanged at 2.0 percent, official figures showed — above estimates of 1.9 percent — pushing sterling to as high as $1.3017. The greenback has come under pressure recently after officials suggested slowing US inflation was giving them room to lower borrowing costs soon.
Add Comment