Last week sterling fell to its lowest point since early 2021 against the euro and its lowest for 37 years against the US dollar. It followed not just a string of disappointing economic readings, but also ones that international investors felt will limit the hand of the Bank of England (BoE) in raising interest rates at its delayed Monetary Policy Meeting (MPC) this week.
In the US meanwhile, higher-than-expected inflation increased the chance of aggressive interest rate changes from the Federal Reserve when it sets a new rate on Wednesday.
This morning, sterling has dropped again against the dollar but strengthened marginally against the euro.
The official period of mourning for Her Late Majesty Queen Elizabeth ll will end after her state funeral today.
There are no data releases in the UK today. Smart Currency Exchange is open today, offering a limited service.
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