Sterling has been on a switchback ride the last month, and that has continued into the start of this week. Hardly surprising, when the economic direction has been reversed.
We’ve just seen the UK’s latest annual inflation rate for September. The latest data release revealed Britain’s inflation rate rose to 10.1%, matching the 40-year high we saw in July. In the previous data, annual inflation unexpectedly edged below double digits to 9.9% (from 10.1% in July), which was the first ease in 11 months.
Tomorrow will be a quiet day for data, but things pick back up on Friday with the Gfk Consumer confidence index and retail sales for September.
