A mixed day for sterling yesterday as the markets assessed the relative hawkishness of central bankers and decided that they would get a better return from the euro in the wake of the ECB’s interest rate decision.
However against the US dollar and Japanese yen the picture was very different, with a sharp rise in excess of 1% by the end of the day.
That positivity around sterling has continued this morning.
Next week is another hectic one for data, with inflation on Wednesday ahead of the interest rate decision on Thursday. A Bank of England rise to 4.75% is probably priced into the value of sterling now.
There will also be retail sales and the Gfk Consumer Confidence reading.
GBP/USD past year
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