Pound Traders Look to U.K. Inflation Data to Bolster Recovery
- Sterling strengthens versus all its 31 major peers this week
- Data next week forecast to show U.K. inflation at 2-year high
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Pound bulls who found solace this week in political events outside Britain will look for signs of higher consumer prices to underpin the currency’s rally.
Sterling climbed against all of its 31 major peers this week as investors reassessed the outlook for inflation and the rise of populist movements in Europe after Republican candidate Donald Trump’s triumph in the U.S. presidential election. The U.K. currency’s revival helped unwind part of last month’s almost six percent drop versus the dollar.