Pound Surges to 12-Month High on Robust Economic Expansion, Reducing Rate Cut Speculation
Thursday, 11 July 2024, 21:14
Pound Surges to One-Year High
The Pound has attained its highest level in twelve months following significant economic expansion.
Economic Growth Impacts Currency
Robust economic growth has lessened speculations surrounding potential rate cuts.
- Office for National Statistics findings reveal substantial output growth over two years.
- Sterling rose by a cent to reach $1.2947.
This indicates market optimism in the economy's strength and reduces expectations for rate adjustments.
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