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.
Reported by Reuters · How we write briefs