Ryan Morrison
on February 19th, 2026 The pound opened near its lowest level of the year against the euro this morning, as cooling inflation increases the likelihood of a Bank of England rate cut in March. While the market has stabilised today, the currency remains fundamentally weak ahead of tomorrow’s retail and business activity reports. Against the dollar, sterling has slipped as the global focus shifts toward a resurgence in US currency strength.
GBP/USD: the past year
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