The pound slipped against the dollar again this morning as markets focused on the failed peace talks rather than yesterday’s inflation figures. Although headline inflation held at 3%, core inflation — which strips out food and fuel — crept up to 3.2%, a reminder that price pressures were building even before the oil shock hit. On Friday, retail sales and consumer confidence data will give an early steer on whether households are starting to tighten their belts.
GBP/USD past year