The Great Britain pound jumped today to the highest price in more than a year after the report showed that the inflation in the UK accelerated last month more than was anticipated.
Britain’s annual inflation was 4.4 percent in February, up from 4.0 percent in January. That’s compared to the analysts’ estimate of 4.2 percent and the central bank’s target of 2 percent. The rising inflation renewed talks about the possible interest rates hike by the Bank of England next month.
GBP/USD advanced from 1.6301 to 1.6376 as of 14:34 GMT today and reached earlier 1.6400, the highest price since January 2010.
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