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Bank of England Holds Rates, GBPUSD Edges Higher on Iran War Inflation Risks

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The Story

News Summary

  • The Bank of England kept rates steady amid inflation concerns from the Iran war and cautious economic outlook, pushing GBPUSD up slightly.
  • Wage growth slowed and employment stabilized, but energy price spikes limit sterling gains as investors favor the safe-haven dollar.
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GBPUSD price history

1.35 +1.50% over the displayed period

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