Currency of the week GBP/USD: between rock and a hard place

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Summary

The inconclusive UK elections found Theresa May scrambling to form a coalition. She is pressured to soften her stance on Brexit, but the UK could face a fresh round of elections should her coalition crumble. UK data is also important with rising inflation boosting the pound. The BOE convenes amid a worsening dilemma about interest rates. 

Watch full analysis: Live Europe Market: GBP recovering, CAD rally, USD, EUR, JPY steady ahead of the Fed