While the pound slumped and the US dollar swelled yesterday, it was a mixed day for the euro with no great movements anywhere.
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Sterling sank yesterday after the inflation data, but the falls were modest.
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Yesterday’s inflation data led to the pound losing against just about every other currency. However, the losses were not enormous – around a quarter per cent against the euro, yen and Canadian and Australian dollars, and half a…
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The pound has dropped to its lowest level for six weeks against the euro today (and its lowest against the US dollar since the spring). The reason was the all-important inflation data. “All important” that is, because of…
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The dollar weakened yesterday morning, but had largely regained those losses by the end of the day against sterling, and this has been boosted by UK inflation today.
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The euro had a broadly negative day, weakening by between a third and half a percent against the Norwegian krone and various non-US dollars.
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That latest inflation data for the UK shows Consumer Price Inflation (CPI) dropping to 6.7%, and the effect this could have on the BoE’s interest rate decision tomorrow has already created ripples in the markets.
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This morning’s inflation figure has sent the pound to a new low for the month against the euro and its lowest against the US dollar since May. The UK’s inflation figure has just come in at 6.7%, slightly…
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