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End at 18:00, May 25 (UTC)
Traders cut their bets on a rate cut by the Bank of England, favoring just one more reduction this year.
[Traders cut bets on Bank of England rate cuts, preferring only one more rate cut this year] Financial website Forexlive analyst: After the release of the UK CPI, the current market pricing shows that the rate cut for the rest of 2025 is 34 basis points, compared with the expectation of 41 basis points before the release of the UK CPI. The market is fully pricing in a rate cut in November, which is still a bit high in my opinion, and I expect the BoE and other major central banks to face a more hawkish repricing in the coming weeks and months. ( gold ten )