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GBPUSD Tumbles Below 1.34 on UK Inflation Surge and Rising Rate Hike Bets Amid Energy Crisis

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The Story

News Summary

  • GBPUSD fell below 1.34 as energy price surges from the Iran conflict heighten UK inflation concerns, pushing expectations for multiple Bank of England rate hikes in 2026 amid rising public borrowing.
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GBPUSD price history

1.35 +1.50% over the displayed period

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