Business · 24 July 2026

Pound's three-week rally ends on unexpected inflation dip

The currency is on track to drop 1% this week as traders wait to see if the Bank of England will increase borrowing costs. Investors are also waiting to see the spending plans of new Prime Minister Andy Burnham and his finance minister, John Healey. Making matters more unpredictable, worsening tensions between America and Iran drove the cost of oil past $100 a barrel.

By BriefTea Editorial · 24 July 2026 at 11:58

Reported by Reuters · How we write briefs

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