The pound has strengthened overall in the past 24 hours, particularly against the US dollar (0.50%) but marginally against the euro too.
After a month in which GBP/EUR fell by well over 1%, stability for a week may be welcomed.
This morning’s house price falls, as recorded by the Halifax, highlight that interest rate rises continue to bite, and comments by the BoE’s deputy governor failing to rule out more interest rate rises suggest borrowing costs could rise further. We’ll hear the latest BBA mortgage rates at 11am, after last month they hit a 25-year high.
Next week is a little light on data overall, apart from the GDP result on Thursday. Definitely one to watch.
GBP/EUR past year
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