The pound is up this morning after a relatively positive day yesterday for economic releases, with inflation coming in at 2.1%, just above the Bank of England’s target. It was also helped by downward pressure on the euro, after poor GDP and industrial production figures.
The continuing Italian political crisis is causing more uncertainty around Europe, with a proposed no-confidence vote delayed until at least August 20th – leaving a tight deadline for a potential new government to organise a budget by autumn.
The dollar is low as the markets await a flurry of economic releases, including all-important retail sales, industrial production, jobless claims and manufacturing production. It will provide a good snapshot of how the American economy is performing, especially with continued uncertainty around US-China trade relations.
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