Pound Soars Amid Rate Hike Tug-of-War | Bermuda News

The pound’s on a hot streak, climbing for the fourth straight week as the dollar weakens and UK economic signs spark rate hike speculation. Trading near $1.3658 — its highest in months — the currency faces a tug-of-war: economists predict no hikes this year, but traders bet on at least one by 2026. Inflation stubbornly high gives the Bank of England room to move, with more hikes possible into 2027 if prices don’t cool. Meanwhile, UK retail sales dipped as expected after June’s surge, and a surprise budget deficit added to market uncertainty — all while the dollar’s slump from U.S. Treasury concerns continues to lift sterling. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/97895799c1b62ed4