February 15, 2023 – Written by John Cameron
STORY LINK Pound US Dollar Exchange Rate News: GBP/USD Plunged as UK Inflation Eased to 10.1%
Pound (GBP) Plummeted on Reduced Rate Hike Expectations
The Pound (GBP) suffered immense selling pressure on Wednesday in the wake of softer-than-expected inflation. Against expectations of a modest softening to 10.3%, headline CPI slipped to 10.1%.
Despite remaining sky-high, and far above the Bank of England’s (BoE) target rate of 3%, price pressures appear to be easing much more than anticipated. A third consecutive month of softening inflation saw CPI fall to its lowest level since September of last year….
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