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Sterling drops to new lows in 2018 after inflation unexpectedly dips

Published 05/23/2018, 08:06 AM
© Reuters.  Sterling drops to new lows in 2018 after inflation unexpectedly dips
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  • The British pound fell to a new low for the year as inflation unexpectedly declined, the Financial Times reported.
  • The inflation dip hit sterling, as "markets continue to question the likelihood that the Bank of England will need to tighten interest rates any time soon," writes UBS Wealth Management analyst Dan Turner.
  • The pound has held largely steady against the euro, but is vulnerable against the dollar, the FT report.
  • The pound fell 0.9% today to $1.33 at 1:02PM BST.
  • Previously: Sterling drops to new lows in 2018 after inflation unexpectedly dips (May 23)
  • Previously: Bank of England holds policy steady, cuts inflation and GDP forecasts (May 10)
  • ETFs: FXB, GBB, DGBP, UGBP


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