Despite a recent run of good data currency markets have opted to focus on the Services PMI disappointment of Wednesday the 4th of March.
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Confirmation that the UK economy can handle a Bank of England interest rate rise in 2015 has been provided by the UK construction sector.
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The British pound (GBP) continues to trade around recent best levels after the Bank of England warns of future interest rate rises.
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The latest CBI Industrial Trends Survey shows UK manufacturers are at their most confident in 7 months.
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“The slide towards deflation is now inevitable but that won’t worry George Osborne one bit ahead of the election.” - Dennis de Jong, managing director at UFX.com
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“Beyond delaying the first hike, we also take down the pace of normalization into 2016, finishing the year at 1.25% (slightly below the analysts’ consensus) against 1.75% so far.” - Gilles Moec at …
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“Sterling rose following the BoE report and was dealing around a cent higher against both the dollar – close to a 1-month high – and a similar amount against the euro, close to the 7-month high.” –…
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