The pound is still strong this morning against the euro and the dollar after higher-than-expected inflation figures yesterday. Inflation jumped to 4.1% annually in October, leading the markets to increase their expectations of an interest rate hike before the new year.
Yesterday, sterling reached its highest point against the euro in 21 months and is still trading around that level this morning. Higher inflation was said to largely be down to rising energy costs and supply chain issues.
It’s a light day for economic data releases in the UK today, however, tomorrow morning, retail sales and consumer confidence figures will be released.
