The pound has weakened this morning against both the euro and the dollar following US inflation data that could encourage the Federal Reserve to tighten its monetary policy earlier than anticipated.
The travel industry has warned that the UK may fall behind Europe and the US when it comes to foreign travel if the government does not simplify its current traffic light system. Uncertainty along with costly PCR tests have been putting customers off booking foreign holidays. Chief executive at Gatwick aiport Stewart Wingate said, “The UK aviation recovery is far behind countries in Europe such as France and Germany whose travel bookings are on average over 50% of pre-pandemic levels whereas in the UK it is sitting at approximately 16%”.
It is a quiet day today for UK data releases, however, next week we will see employment figures on Tuesday as well as inflation figures and PPI on Wednesday.
