Inflation remains strong, and the market reduces its bets on a rate cut by the Central Bank of the UK.

Jinshi Data News on July 17th, due to the continued strength of consumer prices in the UK in June, especially in the service industry, hotel prices have pumped strongly (it can be said to be the Taylor Swift effect). Traders have reduced their bets on the August interest rate cut by the Central Bank of the UK, and the probability of a 25 basis point rate cut has dropped from around 41% to around 27%. The currency market has also dropped the possibility of an interest rate cut in September, and is no longer pricing in two interest rate cuts in December as it did on Tuesday.