The pound has strengthened against the euro and the dollar this morning, recovering from losses seen at the beginning of the week.
A more positive market mood has boosted sterling, which has been brought about by news that China is easing lockdown restrictions. Stock markets have risen higher and as the pound typically moves with the broader markets, it has also strengthened.
This morning, data showed that car production in the UK fell by 11.3% in April compared to last year, amid ongoing chip shortages and supply chain issues, which have been worsened by the Ukraine crisis.
