A monthly survey of UK business conditions from IHS Markit encouraged expectations for a rate hike at the Bank of England in December, which should in turn keep the Pound relatively well supported.…
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The British Pound enters the new week with a supportive wind behind it having earned the distinction of last week's best performing major currency.
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HSBC says 2022 will see the Pound deliver an uninspired performance against the Euro and head lower against the Dollar.
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"Sterling is poised to do what it did from late 1996. Specifically, after four years of weakness following its shock ERM exit in September 1992, the pound gaped-up impressively."
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The British Pound rose in value against the Euro, Dollar and other major currencies after UK inflation rose faster than investors were expecting in October, according to official data.
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The British Pound will take guidance from labour market data due for release on Tuesday as it could determine whether or not the Bank of England raises interest rates in December.
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Pound Sterling was supported mid-month with foreign exchange analysts saying rising Brexit tensions relating to the Northern Ireland protocol are yet to materially impact the UK currency.
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