Goldman Hits $1.30 Pound Bet in Just a Week as BOE Seen on Hold.

Goldman Sachs Group Inc. successfully hit its target on the pound within a week, as the currency rose above $1.30. This increase came as traders reduced their bets on an interest-rate cut in August, following higher-than-expected inflation data. The appreciation of the pound highlights its attractiveness compared to other currencies, and it is currently trading at its highest level in a year. The UK's improving economic growth, persistently high inflation, and optimism surrounding the new Labour government have contributed to the pound's gains. The latest inflation data suggests that the Bank of England may hold off on lowering borrowing costs. [Extracted from the article]