One of many popular forex trading pairs is also GBP/USD – British Pound vs American Dollar. Investro provides daily news and updates on this foreign exchange trading pair.
The Bank of England has decided to raise the Bank Rate by 25 basis points to 1.25%. The central bank declared that inflation is set to peak at an alarming 11 percent by the end of the year.
This week, the UK's unemployment rate fell to a 48 year low of 3.7% in the first quarter of the year, while inflation accelerated to a 9% annual rate in April.