Read the article to discover interesting facts about the pound, the official currency of the United Kingdom.
The pound (GBP) continued to rise on Tuesday as market sentiment has improved and the UK reported relatively better-than-expected data.
GBP recovered and attracted investor interest after the release of the United Kingdom’s ONS reported on inflation.
The improved market sentiment and hawkish comments from Bank of England (BoE) policymaker Katherine Mann have supported the pound.
The pound fell as the Bank of England (BoE) Governor Andrew Bailey stressed that the interest rate hiking cycle was now close to an end.
In the City, investors and economists are now wondering whether the Bank of England (BoE) will become less aggressive.
Pound Sterling has been grappling with significant challenges ahead of the upcoming UK inflation data.
The UK Manufacturing and Services PMI data dropped below expectations, pushing the pound lower.
The GBP/USD pair has weakened on Thursday morning, as cautious sentiment prevailed in the market ahead of Bank of England’s monetary policy meeting.
GBP/USD recovered after taking a break during the UK holiday on Monday.