Market Comment - 20th July 2022

Posted by Stuart PritchardJuly 20, 2022

Good afternoon,

We decided to wait for any potential outfall over the UK inflation data to be priced in before sending out a market update. Inflation came in at a huge 9.4% growth year on year. Slightly more unsettling is it's been cited to household necessaries such as eggs, milk and cheese going up in price quite dramatically. This further highlights the potential that the cost of living situation could actually get worse towards the end of the year.

However the outcome of this number hasn't caused any real impact on Pound rates. Against both the Euro and the Dollar there has been mainly sideways moves throughout the day.

With very little further data out today we are expecting no fireworks today.

As ever we look forward to keeping you in the loop and look out for our next update.

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