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🟣POUND STRONGER, DOLLAR SLIGHTLY DECREASED

🟣POUND STRONGER, DOLLAR SLIGHTLY DECREASED

Day: 11 | Time: 03:26:21 The dollar slightly declined on Thursday, although movements were largely contained as investors awaited a US inflation report later in the day, while the pound strengthened due to reduced expectations of an interest rate cut by the Bank of England (BoE) in August. The pound rose to a one-month high of $1.28545 in the Asian market, extending a gain of 0.48% from the previous session following comments from BoE officials that prompted markets to scale back bets on an easing cycle starting next month. BoE Chief Economist Huw Pill stated on Wednesday that price pressures in the UK economy are persistent and that the timing of the first rate cut is an "open question."

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