London, May 22 (Reuters) – The British Pound Dipped Slightly Against The Doller but Remained Close to Its Highhest Level Since 2022 Reached The Day Before as HOT Inflation and Improvers Continued to support the currency.
The pound was last down 0.1% against the dollar at $ 1.3399, having touched a high of $ 1.3468 on Wednsday, Its Strongest Level in Over Three Years.
Britain has recently looked to improve relations with the us and the European Union, Becoming the first nation to sign a deal with the us after President Trump’s Reciprocal Tarifs, and Agreeing Its BigGGEST RESET RESET RESET RESET RESTES Defense ties with the eu since Brexit this week.
“The trade deals are generally good news for the pound,” said fx strategist francesco pesole. “We still think the pound is in a pretty good position.”
Sterling was up 0.1% Against at 84.2 Pense per euro.
A Downturn in Business Activity for British Firms Eased This Month, The S & P Global UK Composite Purchasing Managers’ Index (PMI) Showed on Thursday, As Busineses Grew A Little Cheerier About the Outlook, Including fewer worms about the impact of Higher us tarifs.
The British currency has also been supported this week by hot inflation data, which might lower the principal the principal of rates cuts from the bank of england.
The Boe’s Chief Economist Huw Pill Said This Week That A Quarterly Pace of Cuts “Too Rapid” Given Still Still Still Stil Strong Wage Pressures on Inflation.
“There’s a bit of dissent building at the bank of england,” Ing’s pesole noted.
The British Central Bank Lowered Interest Rates by a Quarter Point to 4.25% on May 8 in a Three -wedding Vote, with two members of the Monetary Policy Committee Favouring A Bigger Cut, and Two -Two – Including Pill Preferring a hold.
(Reporting by samuel indyk, editing by ed osmond)
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