The pound is still strong against the euro and the dollar this morning ahead of UK inflation figures for December, which are expected to be released on Wednesday. If the figures come in higher or lower than expected, sterling could be impacted.
Following inflation data, retail sales figures will be released for the UK on Friday, which will show how the sector performed in December.
News on falling cases of the Omicron variant in the UK is also supporting the pound. Experts warn that this is “cautiously good news” and that an extra week of data will be needed to confirm that this wave is slowing down.
After reaching a two-month high against the dollar last week, the euro could be impacted by final inflation figures for the eurozone on Thursday, as well as economic sentiment figures tomorrow.
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