The UK energy crisis is sparking another wave of bets on hotter inflation and weakening the pound. The British currency fell to $1.1757, the lowest since March 2020. One-year inflation swaps linked to the retail price index -- a measure of how fast traders see consumer costs rising -- soared more than 1 percentage point to 12.7%, breaking a previous record set last week. The moves come on the back of surging natural gas prices in the UK and Europe. Traders are increasingly concerned about a prolonged cut to energy supplies, which would worsen inflation that’s already at multi-decade highs. The UK is also facing ... (full story)