Sterling Bounces Despite Evidence of Cracks in the UK Labour Market, GBP/USD Again Finds Support Near 1.2450 The Pound to Dollar (GBP/USD) exchange rate resisted further selling on Monday with a move back above the 1.2500 level after finding support on approach to 1.2450. The Pound to Euro (GBP/EUR) exchange rate also posted net gains to 1.1520. In comments on Monday, Bank of England (BoE) Chief Economist Pill stated that the bank needed to be wary over the risk of sticky inflation and the risk that inflation settles in a 4-5% range rather than dip further to the 2% target. The comments reinforced expectations that ... (full story)