UBS - British pound faces dollar dominance amid inflation and BoE rate cut ...Middle East

A note from UBS highlights that despite stronger-than-expected UK inflation data and a recent rate cut by the Bank of England, market sentiment remains bearish on the British pound.The pound briefly spiked above $1.27 against the dollar after Wednesday’s robust CPI report, but gains were swiftly erased, reflecting broader dollar strength driving the GBP/USD pair. UBS attributes this dynamic to the market's focus on U.S. dollar momentum rather than UK-specific factors.The inflation figures underscore BoE Governor Andrew Bailey's cautious stance, aligning with his recent call for a gradual approach to policy easing. This comes after the central bank reduced rates by 25 basis points to 4.75% on

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UBS - British pound faces dollar dominance amid inflation and BoE rate cut ...Middle East

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