Pound Weekly Fundamental Forecast: Unflattering GBP Set to Continue
The pound had some rather tricky data prints to navigate this last week with UK inflation and retail data alongside Jerome Powell’s two-day testimony. Inflation needs no introduction as it is surging in major economies and printed in line with expectations at 9.1%, up 0.1% from the April print. Higher than expected inflation prints, at a time when members of the Bank of England (BoE) have seemed hesitant to hike at the same pace as the Fed, can have a negative effect on the pound as it worsens the ‘cost of living squeeze’. On Friday, we saw disappointing UK retail sales data (-4.7%) even though expectations of
Read More…