Fundamental News - GBP/USD


The British pound hovered around $1.30, close to a 17-month low of $1.297 on April 13th as high inflation pressures arising from soaring energy prices are hurting households' purchasing power and squeezing their finances. The latest UK CPI report showed the inflation rate hit a 30-year high of 7% in March, pressuring the BoE to tight faster. Markets expect the Bank of England to raise rates to 1% during the meeting on May 5th and see 140 basis points of hikes by year-end. Elsewhere, investors scaled bets of aggressive Federal Reserve tightening after inflation prints that provided hope inflation is reaching a peak.