After strengthening against the euro yesterday, sterling is weaker this morning. Against the dollar, the pound is nearing a yearly low as markets continue to seek safe-haven currencies.
As the UK economy continues to suffer from rising inflation – which is forecast to reach 11% later this year – the director general of the British Chambers of Commerce (BCC), Shevaun Haviland, has warned Chancellor Rishi Sunak that businesses desperately need financial support. “We are on limited time. The government has until the autumn budget to reset, rethink and get their house in order,” he urged.
Today, data for manufacturing PMI will be released. Mortgage approvals and lending figures will also be released.
