The pound is low this morning following some poor economic results, with composite PMI falling into contraction for the first time since 2016. Following on the back of a suggestion of a rate cut by Mark Carney yesterday, it’s not a positive start to the morning for the pound.
Christine Lagarde’s nomination to ECB President surprised many earlier this week, and concerns are still being raised about her of experience in central bank policy setting. Meanwhile, further suggestions of a rate cut by the Federal Reserve are keeping the dollar low, as is below-expected economic data.
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