Sterling edges lower ahead of key data

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Reuters UK

(Reuters) – Sterling edged lower on Monday at the start of a data-heavy week in which investors will scan inflation prints from the UK and the U.S. to make bets on the pace of further interest rate hikes. UK inflation likely eased further in January to 10.2% from 10.5% in December, having seemingly peaked at 11.1% in October. The data is due on Wednesday. This is seen strengthening the case for the Bank of England to slow its pace of interest rates raises after it dropped its reference to “act forcefully” against inflation earlier in February, which markets took to signal that the central bank…

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