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Pound edges higher as Bank of England officials highlight inflation risks

GBP rose 0.13% to around 1.3256 versus the US dollar, while it was weaker against the yen.

Reported · Written up by our desk · Major Pairs

The British pound traded higher against most of its major currency peers on Monday, rising 0.13% against the US dollar to around 1.3256, according to FXStreet.

The outlet also noted the pound was firmer versus some currencies while moving differently against the Japanese yen, which was excluded from the gains against the major peers.

FXStreet attributed the pound’s strength to comments from several Bank of England officials stressing upside inflation risks and keeping the possibility of further interest rate hikes on the table.

The report highlighted the emphasis on external inflation pressures, including energy, weather and AI supply chain effects, alongside their potential domestic indirect impacts, and cited Bank of England member Ramsden’s elevated speech tracker score.

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