The pound declined following the release of lower-than-expected inflation data, raising expectations for a potential interest rate cut by the Bank of England.
This drop, combined with slower wage growth, has heightened expectations that the central bank will adopt a more dovish stance at its upcoming meeting on November 7.
As interest rates are expected to decrease, the pound has become less attractive compared to the dollar, which is nearing two-month highs.
Attention now turns to the UK's upcoming retail sales data. If the anticipated 0.3% contraction is confirmed, it could exacerbate cautious sentiment towards the pound.
Collection
[
|
...
]