The pound strengthened yesterday following growth – albeit tepid – in the UK economy. The Ukrainian fightback also led to global stocks rising, and traditionally the pound rises and falls in line with equities. This morning we have heard that unemployment is 3.6%, the lowest since 1974.
Around now we will be hearing from Bank of England (BoE) governor Andrew Bailey, but there is no interest rate decision this week. It has been postponed until next week, following the Queen’s funeral. However, experience tells us that a speech from the governor has the power to move the market too.
Tomorrow there will be the all-important inflation reading for August and Friday is the turn of retail sales.
GBP/EUR past year
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