Sterling lost between 1.5 and 2% yesterday against the euro, US dollar and Swiss franc in the wake of the two interest rate decisions yesterday.
Governor of the Bank of England Andrew Bailey said there was the “first glimmer” of inflation easing, noting November’s drop to 10.7%: “That’s obviously very good news, but there’s a long way to go,” he told Sky news. He warned that while the Bank expects inflation to fall rapidly after the spring, that couldn’t be guaranteed “because of the UK’s tight labour market.”
This morning the data continues with a flash reading for S&P Global/CIPS PMI at 9.30. Next week is considerably quieter for data from the UK.
GBP/EUR past year
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