The pound drifted lower on Wednesday as fresh inflation data reinforced expectations that the Bank of England will finally cut interest rates next month, despite market unease over Labour’s tax-heavy economic strategy. Sterling dropped to 1.313 dollars and 1.134 euros after consumer price inflation moved down from 3.8 percent to 3.6 percent. It was the … Continue reading Pound Slips as Inflation Stays High and Looming Labour Tax Rises Weigh on Markets