Sterling continued its slow but steady rise against the euro yesterday, taking its rise close to 1% since last Tuesday and back to where it started last week against the US dollar. However, that has reversed so far this morning in early trading.
The markets are firmly backing a rate hike from the BoE this month, for all the “Table Mountain” talk from chief economist Huw Pill last week, which hinted at holding rates high but stable for a while.
Overnight we heard that retail sales in the UK grew well ahead of expectations in August and new car sales will be announced shortly.
GBP/EUR past year
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