UK Inflation runs hot - Jackson Hole symposium looms large later this week

RedFX Snap: GBP should find some support after CPI report shows headline and core inflation at 3.8% (higher than the 3.7% expected and June's reading of 3.6%). Inflation expectations have also crept higher (1 year forward expectations now at 2.7% from 2.4%).

GBP/USD has fallen from 1.3600 to 1.3500 since last week but should find temporary relief here when matched with the latest Reuters poll showing markets expect just one 0.25% interest rate cut in 2025

The annual Jackson Hole symposium looms larger at the end of this week - if your business has international payment needs, now is the time to talk to RedFX

President Lagarde struck an upbeat tone on the Eurozone yesterday with these comments:
Recent trade deals have alleviated, but certainly not eliminated, global uncertainty.
The Euro area economy proved resilient earlier this year in the face of a challenging global environment.