The pound has recovered from losses earlier in the week against the euro but continues to struggle against the dollar.
Sterling hit a one-month low against the greenback yesterday following clear indication from the Federal Reserve that interest rates would be raised in March. However, expectations that the Bank of England will likely also hike interest rates has supported the pound against the euro.
We are still waiting for senior civil servant, Sue Gray’s, report into the Downing Street parties. It has emerged this morning that the Met Police have asked that the report makes “little reference” to any events it is investigating but has not asked for it to be delayed.
In the eurozone, the French economy has grown at its fastest rate in over 50 years, and the Spanish economy also expanded. Markets now await German GDP and eurozone consumer confidence figures.
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