UK inflation drops to 2% target

British inflation returned to its 2% target for the first time in nearly three years in May, but strong underlying price pressures all but rule out a pre-election interest rate cut. While Prime Minister Rishi Sunak welcomed the fall in headline inflation in May, it has likely come too late to turn around his fortunes in British elections on July 4.

The Pound-Dollar pair gained a moderate 0.1% in the last session.
The Stochastic indicator is currently in the negative zone.
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