GBP rates remain locked in a sideways channel at the moment. Against both the Euro and the Dollar the movement is similar. Possibly more to the upside for the Pound right now, but the rates are still well off recent highs.
Business news is dominated by the rail strike that came into effect today. Although this has caused havoc for students and commuters it's had no real bearing on global markets.
Overnight Rightmove released it's house price index which still shows positive monthly growth of 0.3% indicating the market may be slowing, but still gaining.
The big news that could move rates tomorrow morning is the UK's inflation data. Recent decisions by the Bank of England have been aimed at curbing inflation, but levers being pulled as part of monetary policy never have an instant effect. Analysts are predicting rampant growth of 9.1% year on year.
As ever we look forward to keeping you in the loop and look out for our next update.
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Today’s Economic Calendar
UK: 13:15 BoE Silvana Tenreyro Speech
JPN: Wednesday 00:50 BoJ Monetary Policy Meeting Minutes
UK: Wednesday 07:00 Inflation Data
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