Sterling hit by triple dose of bad news

28 July, 2011


The Pound’s recent run was brought to an abrupt halt this morning by 3 pieces of economic news it could have done without. Inflation, the trade defecit and house prices all fell – meaning that an interest rate rise in the UK is even less likely than had been the case previously.

In turn sterling weakened against most major currencies, losing over half a cent against both the Euro and US Dollar when the figures were releases at 9.30 this morning.

Tomorrow’s unemployment data is the next major UK news due out, and in the current climate it might be wise to expect more bad news.