Pound up today on UK inflation news
There is a lot going on, let's take a closer look…
The Pound has been drifting down against the Euro and US Dollar over the past week.
But today it’s attempting a comeback…
The latest UK inflation data has come in above expectations this morning.
This is good news for the Pound as UK interest rates could now remain higher for longer.
While GBP/EUR has fallen back from 2-year highs, the overall trend still looks favourable.
As for the “Trump Rally” in the US Dollar, it seems to be settling down now.
GBP/USD currently looks oversold and due a bounce.
We have a bunch of speeches from central bankers throughout the week. Investors tend to be sensitive to any change of heart.
As always, if you have any specific requirements coming up, give us a call.
So what next, what should you do?
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Current rates:
Wednesday 20th November 2024 at 09:24
£1.00 GBP = 1.2000 EUR
£1.00 GBP = 1.2670 USD
£1.00 GBP = 1.9445 AUD
£1.00 GBP = 2.1515 NZD
£1.00 GBP = 1.7705 CAD
£1.00 GBP = 1.1215 CHF
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