GBP Surges to Two-Month High as BoE Rate Hike Bets Remain Alive

The British Pound (GBP) has climbed by 0.25% on Thursday in the North American session, reaching its highest level since February at 1.3659.

This comes despite weaker-than-expected US Nonfarm Payrolls data for July, which showed a loss of 131K jobs, although the unemployment rate remained steady at 3.8%

The Pound's advance is largely attributed to the UK inflation data released on Wednesday, which hit a four-month high in July.

As a result, bets on a Bank of England (BoE) interest rate hike remain alive, with traders expecting 25 basis points of tightening by the December meeting.