Despite UK inflation coming in below expectations this morning, and the Covid-19 rates being worse than at any point since March, the pound has remained resolutely strong this morning. There was a brief wobble when the prices data came out at 7am but it looks to be an inverse dead cat bounce, if you will.
The prevailing view from the markets seems to be that high inflation is bedding in, if anything, and the Bank of England will still be raising interest rates fractionally by the end of the year.
This is of course a matter of great debate and the pound could easily suffer. So to lock in today’s rate – still the highest for 19 months – do call your trader on 020 8003 4915.
On the resurgence of the pandemic in the UK the markets seem, like most users of public transport so far as I can make out, remarkably insouciant. There is barely a mask to be seen these days. Will that last? Or will people see rising infection and hospitalisations, hear horror stories of people waiting hours on hospital trollies and vote with their feet, staying at home this winter once again, but this time voluntarily? The currency markets appear to think not.
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