Pound Sterling soars to 1.2800 amid cheerful market mood fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
This week, investors will focus on inflation data from the major Eurozone economies, seeking clues about the interest rate path of the European Central Bank (ECB).
BoE Governor Andrew Bailey indicated overnight that he anticipates the next move in monetary policy will be a rate cut. He expects a significant decline in April's UK inflation data, but questions remain about how long the current level of monetary policy restriction will need to be maintained.
UK inflation drops to 2.3% YoY in April, beats estimates fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.