Sterling Climbs as UK Core Inflation Accelerates, Dollar Softens Ahead of FOMC Decision

Sterling strengthened across the board today after UK CPI data revealed reacceleration in core inflation. The uptick in core CPI provides additional support for hawkish members of the BoE’s MPC, bolstering the case for a rate hold at tomorrow’s decision. A rate cut is still expected in November, when new economic projections will be available. […] The post Sterling Climbs as UK Core Inflation Accelerates, Dollar Softens Ahead of FOMC Decision appeared first on Action Forex.