Monday, 25 October 2021

Sterling rises after dollar falls

POUND

file photo

LONDON: British Pound seems to be struggling to improve on the recent strong performance as the market desires to learn of better news. Whilst the good news is not exactly forthcoming there is a very high expectation the data will continue to be positive for the UK and the Pound which will lead to the Bank of England considering an interest rate hike in May.

The problem with the news coming out this month is that it reflects the news from March which is when the snow caused widespread disruption across the UK, leading to lower economic figures. Whilst the Bank of England will take this with a pinch of salt, they cannot ignore the reflection of a slightly weaker economy and this might influence their decision making.

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