The pound is stronger against the euro but is still struggling against the dollar following disappointing GDP figures.
The UK economy grew by a tiny 0.1% in October, mainly hindered by the hospitality sector. Some experts have expressed their concerns over the fact that this low reading is before the new Omicron variant has even been accounted for. Chancellor of the Exchequer, Rishi Sunak, has insisted this is just a “bump in the road”.
In the eurozone, German inflation data met expectations but failed to give the euro much support.
On the other hand, the dollar is still strong as markets chase safe-haven currencies. All eyes are now on today’s US inflation figures and next week’s Federal Reserve meeting.
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