It has been a turbulent week so far for sterling, but recovery is on the horizon. Although still at a low compared to where it was this time last week, sterling continues to make some improvement against the euro this morning.
In politics, the UK is preparing to name its next prime minister – the announcement will be made on Monday.
Yesterday the euro continued to strengthen sharply against the pound, however this morning the euro has dipped against sterling in anticipation of today’s Eurozone inflation rates. Markets are expecting inflation to hit 9.1%
In the US, The number of US Job openings exceeded market expectations in yesterday’s data release, rising by 199,000 to 11.239M. Openings were forecasted at 10.5M.
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