The British pound sterling reached its one-year high against the American currency on Wednesday after the country's inflation rate again fell within the Bank of England's target range, seemingly spurring hope that the central bank could lean toward rate cuts in the second half of the year.
The pound sterling rose 0.27% against the dollar, changing hands for 1.30091 at 9:42 am CET. The euro slipped 0.15% against the pound to sell at 0.83881, its lowest level since August 2022.
