The pound is weaker against the euro and the dollar this morning, trading around recent lows. This follows the release of GDP figures, which show that UK economic recovery slowed in the third quarter of this year.
Rising infection rates, the so-called ‘pingdemic’ and global supply shortages were cited as reasons for the slowdown. The UK’s economic recovery is now underperforming in comparison to other G10 countries.
The dollar has strengthened this morning following US inflation data released yesterday. Inflation surged to its highest since November 1990, prompting expectations that the Federal Reserve could raise interest rates sooner than planned.
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