This was the highest rate since March 2020 due to the reopening of businesses and because the cap on energy bills has been lifted.
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The pound is still strong against both the euro and the dollar after inflation data was released for the UK this morning. Inflation rose in April, both annually and month-on-month, due to the reopening of the UK economy.…
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The month of May has overall been a positive one for sterling. After a sharp fall in April, the pound has since recovered by around 1.10% against the euro. Yesterday was another good day, seeing the pound receive…
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The US dollar’s fall continued this morning, and more precipitately than yesterday’s small decline against the euro. Against sterling the fall has been more gradual but relentless since Monday morning.
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The single currency weakened against sterling yesterday while remaining essentially unchanged against the US dollar.
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Fears that the Indian variant would delay the lockdown were shrugged off by the markets yesterday and the pound strengthened by nearly half a percent against EUR and a little more against USD.
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The ending of the British lockdown continued, with hospitality, cinemas and other venues now allowed to open indoors and flights to “green list” countries including Portugal and Gibraltar restarting.
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The Federal Reserve will release the minutes from its latest monetary policy meeting on Wednesday and the markets will be watching closely for any comments from officials and Fed Chair Jerome Powell.
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