The pound recovered slightly against both the euro and the dollar yesterday and is trading around the same levels this morning.
This came after comments from Bank of England Governor, Andrew Bailey, who said that interest rates could be hiked if inflation starts to fuel wage increases. Despite voting to keep interest rates on hold last week, the markets continue to look at the Bank for signals that they may be raised soon.
There are no significant economic data releases for the UK today. However, UK GDP figures will be released tomorrow, expected to reveal that the economy expanded by 1.5% in the third quarter of this year.
