The pound rose against the US dollar this afternoon with the pairing currently trading at around $1.226 as the ‘greenback’ slumped on September data revealing the weakest US inflation reading since January. With US data also revealing a retreat in underlying inflation, expectations for another near-term Federal Reserve rate cut increased.
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Pound US Dollar exchange rate: expectations for October Fed rate cut buoys GBP/USD
![Pound US Dollar exchange rate: expectations for October Fed rate cut buoys GBP/USD]()
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10 October
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