The pound has strengthened against the euro and the dollar ahead of US inflation figures due later today.
Yesterday saw Prince Charles deliver the Queen’s speech which set out the government’s agenda for the coming year. While the government has promised to tackle soaring living costs, Prime Minister Boris Johnson warned that he could not “shield everyone” from rising inflation.
Today, Boris Johnson is scheduled to meet with the leaders of Sweden and Finland to discuss the possibility of both nations joining Nato and the “security of Europe more broadly”. The leaders are expected to discuss Europe’s response to the war in Ukraine.
In the data world, German inflation has risen to a new high of 7.4%. Soaring energy prices and above-average food prices were the main factors.
Today we will hear from several central bank officials, including President of the European Central Bank Christine Lagarde and Federal Reserve official Rapheal Bostic. Their comments, along with today’s US inflation figures, are likely to be the main drivers of movement.
Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
