The annual inflation rate in the UK rose to 3.5% in April this year, which is the highest rate since January 2024. Thus, the forecasts of 3.3% were exceeded and it makes us remember the statement of the Bank of England Chief Economist Hugh Pill, which we wrote about a week ago. He noted that he was concerned about the possibility that inflation in the UK would be higher than expected. The current development of the situation calls into question the continuation of the Bank of England's cautious monetary policy. With the growing probability of policy tightening, buyers returned to the market. An additional catalyst for growth is the weakening of the U.S. dollar. The GBP/USD pair is making an attempt to break out of the range and at the time of review preparation is above the maximum reached in September 2024.