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The pound has been consolidating at close to year-to-date lows against the US dollar this week at just above the 1.3200-level. The pound has been supported this year by the resilient performance of the UK economy. There was further good news this morning when it was revealed that economic growth revised up by 0.1 ppt t
The pound rose against the dollar and euro as investors priced in a higher chance of a November BoE rate hike. Bailey and Ramsden flagged rising inflation risks from high energy prices.
BoE's Ramsden: Case for hike if upside pressures persist