Inflation Growth Helps Pound to Gain
The pound gained today versus several important currencies and specially versus the euro after a report showed an increase in the U.K.’s inflation, helping speculations that interest rates will be raised in the country to grow.
Even if inflation is still below Bank of England‘s target of 2 percent reaching 1.9 percent in the annualized figures for the past month, it beat forecasts and added confidence that interest rates will rise in Britain next year, providing support for the pound to gain versus the yen and the euro.
EUR/GBP declined to 0.8926 as of 18:16 GMT from a previous rate of 0.8985 in the intraday.
If you want to comment on the Great Britain pound’s recent action or have any questions regarding this currency, please, feel free to reply below.
Earlier News About the Great Britain Pound:
- Pound to Trade Below $1.60 on Weak Resilience, Fed Rate Hikes (2009-12-14)
- Pound Down on Weaker than EU Outlook (2009-12-08)
- Pound Drops on Consumer Confidence Decline (2009-11-30)
- Pound Posts Weak Performance on Growth Outlook (2009-11-28)
- Pound Up on Global Optimism (2009-11-23)