Market insights

Pound Back At Highs Versus Euro - MI120424

What a mixed bag.

Against the Euro the Pound is back at recent highs.

However it's the opposite versus the Dollar.

Better than expected UK numbers this morning could put pressure on the Bank of England to cut their base rate whereas the inflation numbers from the US puts the opposite pressure on the FED to keep rates in the US where they are.

The good news is that the UK economy might not be in quite the turmoil that recent rhetoric has indicated.

Today could see a shift in Dollar rates however.

There's a number of speeches from the FED around the Michigan consumer sentiment reading later this afternoon.

Business news centres on the potential that the UK may have lifted its nose out of the technical recession on the back of the better than expected manufacturing and production figures out at breakfast time.

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Economic calendar

US: 15:00 Michigan Consumer Sentiment Index

US: 18:00 FED's Jeffrey Schmid Speech

US: 19:30 FED's Raphael Bostic Speech

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

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