The pound has held onto its gains against the dollar and the euro following the release of UK GDP figures this morning . The data shows that the UK economy grew by 4.8% in the second quarter of this year, largely due to the return of indoor dining and leisure activities in May.
This follows a 1.6% decline in the first quarter of 2021 and has fuelled expectations that the Bank of England will hike interest rates next year.
The dollar has weakened slightly this morning after softer US inflation rate figures, although analysts still expect the Federal Reserve to tighten monetary policy measures this year.
Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
