Sterling starts the week at its strongest for around two months against the euro and US dollar. There all similarities end, however, as against the dollar it is well below the average for the last five years whereas…
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Yesterday the pound reached a 10-day high versus the euro after the European Central Bank (ECB) raised its interest rates by 75bps.
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The European Central Bank raised its interest rates by 75 basis points during its October meeting. This was in line with forecasts.
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Sterling climbed back to its October highs following the abnormally large interest rate increase announced by the European Central Bank yesterday.
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Yesterday the US commerce department announced that the country’s GDP grew in the third quarter of 2022, following a drop in the previous period.
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Britain's chancellor, Jeremy Hunt, announced yesterday that he will hold the long-awaited full Autumn Statement on November 17th instead of October 31st.
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It's been a choppy week so far for the pound versus the euro, but sterling is in a better position than it was this time last week.
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The euro starts today marginally lower than it did yesterday against the pound.
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