Sterling edged higher against both the dollar and the euro as data showed U.K. inflation returned to the BOE’s 2% target but services and core inflation remained elevated, meaning the bank is very unlikely to cut interest rates on Thursday, analysts said.
U.K. inflation declined in May, increasing the likelihood the Bank of England will lower its key interest rate in the coming months, although the core print came in slightly above expectations.
Italian fashion company Golden Goose, the maker of Super-Star sneakers worn by celebrities including Taylor Swift, has postponed its initial public offering, citing European market volatility.
