Sterling remained close to its weakest levels since January 6th yesterday as investors digested last Friday’s GDP data. Although Britain’s economy narrowly avoided recession during the last quarter of 2022, the monthly figures revealed, a larger contraction ( 0.5%) than the 0.3% markets expected. Investors will be looking at more economic data over the course of this week for clues on how the UK’s economy is performing.
Tomorrow investors will look to yearly inflation. The previous data release showed that yearly inflation fell to 10.5% in December from 10.7% in November. This marked a second month in a row of slowing inflation plus the lowest rate in three months.
