Pound poised to end 7-week loss
The British Pound Sterling rose by 0.43% against the dollar, reaching 1.3331, ending a seven-week losing streak and posting weekly gains of approximately 0.7%. The pound's increase was driven by a weak dollar and a decline in US stocks related to artificial intelligence. Meanwhile, inflation in the United States remains high, and the latest producer price data came in above expectations. The dollar is expected to stay near its recent levels unless there is a sharp decline in AI stocks and high-risk assets.
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