Pound Sterling dipped against its peers after UK inflation undershot expectations and kept alive hopes that Bank of England interest rate cuts would commence in the summer.
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Pound Sterling rose after UK wage data beat expectations and the UK unemployment rate fell to 3.8%, underscoring a tight labour market that can ensure inflation stays elevated.
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Next week is busy for the British Pound with the release of wage, inflation, GDP and retail sales data set to test the UK currency's ongoing resilience.
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The British Pound endured a rough start to the new week as it was the second-worst performer in the G10 FX space despite some strong UK economic data releases.
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The British Pound was volatile after the Bank of England's decision to maintain interest rates at existing levels while hinting ever so cautiously that the next move would be an interest rate cut.
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The British Pound was under pressure into the Bank of England's February update but recovered after policymakers let it be known it was no closer to cutting interest rates.
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It is too early for the Bank of England to pivot its policy in an aggressive manner, according to a new analysis from Bank of America.
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