Sterling Selloff Continues Amid Dwindling Expectations of Aggressive BoE Hike, Dollar Might Recover Further

<p>Sterling continues its descent, which was spurred on by the fallout from UK CPI data, in early US session. The odds of a 50 bps rate hike from BoE in August are being reassessed, now standing at a mere 50% probability. Furthermore, expectations of a peak rate have also dipped, falling below the 6% threshold. […]</p>
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