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FILE PHOTO: British five pound banknotes are seen in this picture illustration taken November 14, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
The British pound jumped Wednesday after a surprise flare-up in UK inflation.

Reuters

  • The British pound jumped Wednesday after new data showed a flare-up in UK inflation last month.
  • The Consumer Price Index rose 10.4% in February, way clear of the figure expected by economists.
  • Traders have locked in the probability of the Bank of England raising interest rates tomorrow, despite the ongoing banking crisis.

The British pound rallied against the dollar Wednesday after fresh data showed that the UK logged a surprise flare-up in inflation last month.

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Markets, MI Exclusive, Currencies, British pound, Inflation, Bank of England, Bank of England interest rates, Fiat currencies, Pound, Foreign Exchange, FX, Forex, Currency Market, UK Economy, UK Interest Rates
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Pound jumps as traders lock in an interest-rate hike after UK inflation's surpr…