The pound is still weaker against the euro this morning, largely due to a rally from the single currency. Sterling started to weaken at the beginning of this week following cautionary comments from Bank of England Governor, Andrew Bailey.
This morning, final GDP figures for the fourth quarter of 2021 came in, showing that the British economy expanded 1.3% on quarter in the last three months of 2021, stronger than initial estimates of a 1% increase.
Data released this morning has also revealed that UK house prices rose at their fastest pace since 2004 in March by 14.3%. The price of an average UK home hit £265,312, more than £33,000 higher than March 2021.
