On Thursday morning, the pound rose as market mood improved and investor appetite for risk-sensitive assets such as the pound increased.
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On Thursday, the UK central bank will announce its interest rate decision and is expected to deliver another 25 bps rate hike, raising rates to 4.75%.
The GBP/USD pair has reached a fresh two-week high as there are signs that the Bank of England (BoE) will raise interest rates further.
The pound strengthened after the release of strong UK inflation data on Wednesday morning 7am (UK time).