The British pound strengthened against other major currencies in the European session on Tuesday, as investors expect the Bank of England to have a rate hike before the end of the year.
Markets had anticipated—that the Bank of England (BoE) would decrease interest rates twice this year. According to some reports, investors are now pricing in a rate increase of 25 basis points before the year ends.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.