There’s so much for foreign money merchants to digest at present. The UK economic system is slowing quicker than thought, rising the chance of a pause in interest-rate hikes from the Bank of England in both November or possibly even subsequent week. This is pound unfavourable.
At the identical time, merchants are ramping up their price bets for the European Central Bank, and at present totally value in a quarter-point hike by the tip of the yr. This helps make the euro stronger versus the pound.
Aaaaand later this afternoon we’re as a consequence of get US inflation numbers for August. A weaker than anticipated print might journey up the greenback (supporting the pound and different currencies), and we’d count on a stronger print to do the alternative.
