UK Retail Sales Surprise Fuels BoE Rate Cut Uncertainty; GBP/USD Eyes $1.35
“I worry about the fact that inflation has been very high, and the dynamics of payment have been stubbornly strong.” While inflation and spending pressure challenged BOE pigeons, PMI data resumes uncertainty on the rate path. The May flash PMI survey further indicated a sharp recession, potentially revived bets on BOE rate cuts. Simon Pitve,…