The British Pound continues to push lower in the New York session as UK headline inflation breached double digits earlier this morning. Headline jumped to 10.1% (9.8% exp.) and core rose to 6.2% (5.9% est.) on a year-over-year basis. The relentless price pressures facing the UK have failed to subside, as the Bank of England (BoE) comes under further scrutiny to lower inflation. BoE forecasts currently see inflation peaking at 13.3% later this year before beginning to come in. Market participants and economists have grown more bearish on the UK economy in recent weeks, as recession and stagflation fears continue to ... (full story)