UK Recovery From Recession Loses Pace With PMIs Below Forecast

The UK economy’s recovery lost some momentum in May as activity and price pressures in the services sector started to fade.

BNN Bloomberg05:07 ET

Pound Sterling Exhibits Firm-footing Ahead as Traders Pare BoE Rate Cut Bets

The Pound Sterling (GBP) clings to gains above the crucial support of 1.2700 in Thursday's London session.

FXStreet03:23 ET

UK inflation is higher than expected, cooling the outlook for interest rate cuts in June

The UK CPI for April was 2.3%, which is expected to be 2.1%. Heated inflation in the UK cooled the Bank of England's interest rate cut in June. Dutch International Group said that although the inflation data “will not change the Bank of England's rules of the game,” the possibility of cutting interest rates in June has decreased.

FX678 Finance22:51 ET

Hopes of interest rate cuts in June dashed? The decline in the UK's CPI in April fell short of expectations, and inflation in the service sector remains stubborn

Traders cut bets on interest rate cuts in June

Gelonghui FinanceMay 22 06:29 ET

Interest rate cut bets fell due to rising inflation in the UK in April, GBP/USD strengthened, and EUR/GBP fell

After the CPI heated up, the British CPI unexpectedly lifted the interest rate cut bet. The pound strengthened, and the pound rose against the US dollar. EUR/GBP continued its decline after breaking through the support level, and it is worth watching until the ECB's June meeting.

FX678 FinanceMay 22 05:44 ET

Bank of England Could Even Have to Resort to Hiking Again -- Market Talk

Services inflation couldn't only deter the Bank of England from cutting interest rates in June, but could even force policymakers into an unforeseen fresh increase in rates, says Tomasz Wieladek, chief European economist at T. Rowe Price.

WSJMay 22 04:37 ET