The pound slipped dramatically around midday yesterday as news of the Thames Water debacle collided with downbeat comments about the UK economy from the central bankers’ conference in Portugal.
However, there was some recovery in the afternoon and the loss against the euro was less than 0.4% overall.
A relatively quiet week for data continues, but we’ll hear mortgage approval data this afternoon, against a backdrop of a near quintupling of interest rates in the past year.
Tomorrow will be a final reading for GDP, but the bigger news is likely to come from the EUR and USD side.
GBP/EUR past year
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