# Sterling firms versus euro and dollar after UK inflation data | Kitco News

> Sterling rose after UK data showed underlying inflation pressures remained strong, with services prices up 5.7%. Markets cut the odds of a Bank of England rate cut by August to about 30%.

- Date: 2024-06-19 · published 2024-06-19T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/30042-sterling-firms-versus-euro-and-dollar-after-uk-inflation-data-kitco-news
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Stronger UK inflation delays rate cuts, which supports sterling against the dollar. A firmer pound would modestly raise the dollar cost of UK-bound imports.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2024-06-19/sterling-firms-versus-euro-and-dollar-after-uk-inflation-data

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.