Pound surges, rate hike may follow

zzzzhu456

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The British pound is powering ahead today against its US counterpart as more positive data raises speculation that a rate hike from the Bank of England again this year is a real possibility.

Retails sales figures from the UK released earlier today hit the market at 0.3 percent which was well above expectations for a figure of -2.2 and shows that even though the pound has lost a significant amount of purchasing power due to the uncertainty of Brexit, consumers are not afraid to spend.
 
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