Market

UK Inflation Rises to 2.2 Percent in July after Months of Decline

The United Kingdom’s (UK) inflation rate rose to exceed the Bank of England’s target of 2 percent, the first increase recorded this year after months of decline.

According to data issued by the UK’s Office for National Statistics (ONS) on Wednesday, …

Dollar Drops as Inflation Data Reinforces Bets on 2024 Rate Cuts

The dollar extended losses on Wednesday after falling against major currencies overnight as upbeat US producer price data reinforced bets on a rate cut this year.

Risk-sensitive currencies stayed strong after the unexpected softening in inflation buo…