Sterling-euro remains an oasis of relative calm amid febrile and volatile global currency movements, while GBP/USD continues to fall. This morning’s GDP figure has certainly come as a disappointment for the government but joins a long line of data points that look less important given the subsequent rise in energy prices and their likely knock-on effect to inflation and interest rates. There is a bit more data to come before the Bank’s rate decision next Thursday, but events in the Middle East (or on Trump’s polling data) are just as likely to be influential.
GBP/USD past year
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