Inflation figures this morning

Following the moved by the Fed and ECB over the last 2 weeks, the FED increasing its QE programme and the ECB paving the way for their Bond buying programme, yesterday was a day where although it was fairly uneventful, the Pound was the clear winner.

Hitting a 4 month high against the greenback, the Pound also managed to regain Friday’s losses against the euro as the markets took a step back to assess the global economic situation. The euro had surged on Friday but with there still being unresolved issues surrounding both Spain and Greece it may well have peaked and with poor eurozone data releases out yesterday and further data release from the 12 bloc zone due this morning it will be interesting to see if the euro will push on further or retract.

There is a raft of UK data this week kicking off with inflation data out at 9:30am this morning. There are a number of mixed views here with some analysts expect a rise and some anticipating a decline. Retail sales data and BoE minutes also due this week means it could be a choppy week for clients with any requirement to either buy or sell the British pound. Make sure you don’t lose out on any swings in your favour by letting your account manager at Currency Index aware of your requirements.