Pound near one-month low amid firm dollar; UK GDP eyed
Mumbai, Nov. 12 -- The British pound is seen holding decline around a one-month low as dollar stays strong on higher-than-expected US inflation data that raises possibility of a December Fed rate hike. However, BoE policymaker Megan Greene's statement on Wednesday that it was appropriate to "proactively tighten our monetary policy stance" to ward against the risk of wage growth getting stuck at higher levels and firms passing those costs on could limit losses in the counter. Meanwhile, the preliminary reading of UK Gross Domestic Product (GDP) for the third quarter (Q3) will be released later on Thursday. GBP/USD pair is currently trading at $1.3257, down 0.16% on the day. On the NSE, GBP/INR futures are trading at 124.61, down 0.51% on t...
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