In today's trading, the pound is said to be experiencing a reasonably positive trend, rising above $ 1.20 for the first time in the last 3 months. Market expectations also make the inflation rate in the US higher, but this only helps a little for the UK economy.

The cooling inflation data shows that the FED cannot flex amidst lifting inflation rates because it is currently peaking. Meanwhile, the UK policy market has been well received, which also said that market expectations had raised.

The latest rally caps indicate that the turnaround is in the fortunes. Meanwhile, six weeks ago, UK market conditions were very concerning, but in a middle-of-the-road state like this, it strengthened against the dollar without a lower rate hike this month.

Prospects of a slowdown have also appeared, but interest rate rises are said to have occurred in markets worldwide. Earlier in this session, there was a missed out on the market, and the pound had fallen to a record low 

But now, the target is to bring it returned to that condition to become a positive outlook for the pound. Afterall, can the UK economist and Bank of England bring it?

GBP Hits $1.20 Against Fading Dollar Ahead Hunt Budget While Soaring Energy Price Drives UK Inflation to 41-Year High

If you pay attention to current economic conditions, energy bills have driven UK inflation to levels that were never predicted before. The inflation rate has reached a 41-year high, and the pressure is now on the government and the Bank of England.

It can be seen that the consumer price index has risen to 11.1% when compared to last year. Higher than the bank of England's forecast, which says that inflation will only reach 10.0%. Meanwhile, the central bank aims to reduce inflation to a rate of 2%.

According to many parties, the current conditions have increased many people's anxiety, mainly because the cost of living is also a cause for concern. Difficult decisions and the grip of inflation will start wholesale markets across the region, and this is not good news.

According to economists Bloomberg, the BoE will keep a close eye on the inflation statement and discuss the path of interest rates tomorrow. Many say that the directions the BoE will aim for are rates peaking at 4.25% next year, and this is a safe rate.

The budget measure also shows that the current package is under more significant pressure, and maintaining the scheme into the foreseeable future is the beginning of a downward effect on prices. Meanwhile, there is also evidence that shows input prices rising less.

However, at least the condition that the UK Pound can strengthen to the level of $ 1,200 is expected. Figure showing more potent than expected growth, and the Bank of England has the strength to fight inflation, mainly to restore economic stability.

UK Economy Shrinks by 0.2% and Experts Worry It's the Beginning of a Major Recession.

ING shows a tight market, so it may seem to be something that is a punch market. And the UK economy shows that it has shrunk by 0.2%. Volatile components and VAT changes have made experts worry about a major recession that could fall shortly.

Still, the Bank of England is required to be more aggressive in providing a clear cut for service inflation. With a bank rate of around 4%, the business rate with the poorest is the most complex in it. The interest rate can then be pledged.

"It is undeniable now if we look at the much bigger slowdown in trade in the UK if we compare it with the rest of the world. There's also the services exports side… we're seeing an extreme stagnation, not in terms of shipments to the EU," said the treasury committee.