The pound has weakened slightly against the euro and the dollar this morning but is still in a strong position against both.
Softer-than-expected inflation figures had little impact on sterling yesterday as it is still benefitting from increasing expectations that an interest rate hike will occur next month.
The EU Summit will take place in Brussels this morning and EU leaders are expected to discuss a variety of issues, including energy prices. It’s thought that countries across Europe are split on how soaring energy prices should be dealt with, so no radical action is expected.
Eurozone inflation came in as predicted yesterday, coming in at 3.4% for September, the highest reading in 13 years.
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