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UK interest rate

The Pound Sterling (GBP) drops to 1.2600 against the US Dollar in Thursday’s European session.

More broadly, the GBP/USD pair struggles for direction as investors wait for fresh cues about when the Bank of England (BoE) will begin reducing interest rates.

The United Kingdom’s inflation has come down significantly. 

It is expected that Bank of England determine the time of cutting interest rate. 

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