After a strong week against the euro, the pound has fallen this morning, mainly due to euro strength. However, it has strengthened slightly against the dollar.
Sterling may also have weakened due to a warning from the World Bank this morning, which has said there could be a ‘human catastrophe’ from rising food prices. It estimates that there could be a 37% increase in prices, which would push many into poverty.
Later today, two Bank of England officials will speak, and the markets will be listening closely for any comments surrounding monetary policy, interest rates and the UK economy.
