It was all downhill for sterling yesterday as the gains in the early part of the week were finally wiped out against the euro. Still, the pound remains 0.75% up on the US dollar compared to Monday. The cause of sterling’s demise yesterday was the BoE’s Andrew Bailey saying they would not be rushing into interest rate rises. However, that suggests that data will be the guide once again, and we have a lot of it coming out next week, starting with unemployment on Tuesday, then inflation on Wednesday and PMI on Thursday.
GBP/USD past year
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