Pound seen easing ahead of BOE decision

The British pound eased slightly but hovered close to $1.35, its strongest level since February 2022, as it continued to gain from broad US dollar weakness. Investors are focused on the Bank of Englands policy decision today, with markets widely expecting interest rates to remain unchanged. Supporting the pound further, UK inflation stayed high with the annual rate at 3.4% in May, highlighting persistent price pressures in the economy.

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