Dollar slips lower on rate cut expectations; euro hits one-week high

The British pound continues to have an uneventful week.  In the European session, GBP/USD is trading at 1.2595, down 0.13% on the day. UK inflation hits 3% in January Consumer inflation in the UK rose to 3% y/y in January, a sharp rise from the 2.5% gain in December and higher than the market estimate…

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By RoboForex Analytical Department The GBP/USD pair remains under pressure, trading around 1.3460, as it contends with a mix of conflicting factors. In the UK, Bank of England Governor Andrew Bailey stated that inflation is expected to decline next year but confirmed that the central bank’s policy will remain restrictive. He pointed to a weakening…