The pound dropped between 1% and 2% against the US and Canadian dollars, yuan and yen yesterday.
One cause of that, on a day when there was no major UK data, appears to be comments from ECB chief Christine Lagarde that the interest rate hiking cycle may be coming to an end. This comes just before the Bank of England makes its own interest rate decision on Thursday.
Despite losing significantly against the US dollar yesterday following strong GDP data from the US, the pound remains around 0.50% stronger than this time last month against the greenback. It’s also up against the euro, just.
Other than the interest rate decision, there is little data next week from the UK side, but plenty from elsewhere.
GBP/EUR past year
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