020 7898 0500The US dollar experienced some volatility yesterday with various movements throughout the day. It swung above and below 1.33 against sterling following the release of UK unemployment and wage growth figures. We expect there will be continued volatility in the GBP/USD pairing ahead of the BoE meeting later today.
Yesterday we had PPI data come in at 0.2% against a forecast of 0.3% and crude oil inventories came in at 5.9 million. However, both pieces of data had little effect on market levels as UK figures had the biggest bearing on currency movements.
Today we have CPI, unemployment and core inflation data from the US, with the release of core retail sales tomorrow.
