The pound has suffered a reversal in fortunes over the past 24 hours as the markets begin to rethink their optimism over an interest rate rise on Thursday.
It has lost the gains it made against the euro and US dollar and returns to its lowest since mid-October.
Yesterday on the data front we had a final reading for Manufacturing PMI, slightly better at 57.8. While there are no major data releases today, and the Bank of England’s rate setters are staying silent ahead of Thursday’s decision, the markets may take fright if the fisheries dispute worsens.
