Sterling climbs amid inflationary pressures in UK

2021-09-15 09:31:39 GMT (Economies.com)
Sterling climbs amid inflationary pressures in UK

Sterling rose in European trade against a basket of major rivals, resuming gains after hiatus yesterday against dollar on profit-taking, while inflationary pressures mount on UK policymakers.

 

GBP/USD rose 0.25% to 1.3838, with an intraday low at 1.3792, after closing down 0.25% yesterday, the first loss in four days on profit-taking away from six-week highs at 1.3913.

 

UK consumer prices rose 3.2% in August, the highest rate since March 2012, passing estimates of 2.9%, while marking a 2.0% increase in July. 

 

The data increased pressure on UK policymakers and bolstered the case for a rate hike sooner than previously expected. 

 

Rapid UK vaccination efforts and relaxing shutdown measurements led to improvements in economic performance and raised chances of a rate hike next year.

 
 
 
  Symbol Last Change Chg.%
1.1741
0.0027
0.2318%
1.3719
0.0043
0.3122%
Tadawul
11270.57
-40.58
0.36%
22.774
0.473
2.123%
73.440
2.507
3.534%
77.49
0.26
0.34%
1755.180
-1.625
0.092%
 
 
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