After strengthening to a 21-month high against the euro yesterday, the pound is still trading around strong levels against both the euro and the dollar. This follows inflation figures yesterday, which showed that UK inflation jumped to its highest rate in nearly 10 years.
It’s a light day for UK economic data releases today. However, retail sales and consumer confidence figures will be released tomorrow. These data releases could impact sterling.
Several European countries are seeing record Covid infections, including Austria and Belgium. In Germany, new proposals for Covid measures go before parliament in Berlin today due to a spike in cases. If the situation worsens, the euro could be impacted.
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