Sterling attempted to stage a recovery early yesterday, strengthening by 0.5% against the euro, which dwindled by around half of that over the rest of the day. The pattern was repeated against the US dollar, but sterling managed to hold on to most of its gains.
This morning sterling has rallied again. Alongside GDP growing by 0.4% in February, Balance of Trade figures showed a £7.1bn deficit – more than double last month – but industrial, manufacturing and construction output, while down year on year, was better than expected.
