Sterling rebounds on rate hike bets
The pound recovered from multi-month lows against the dollar and euro as rising energy prices fueled expectations of a Bank of England interest rate hike. Officials noted growing inflation pressures.
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GBP/USD rose 0.1% to $1.3259 on Monday morning, rebounding from a three-month low as investors priced in tighter monetary policy from the Bank of England. The currency recovered from multi-month losses against the dollar and the euro amid intensifying inflation pressures. The rebound follows rising energy costs and growing expectations for higher borrowing costs in the United Kingdom.
