Pound fluctuates ahead of UK services PMI
The pound recorded some short lived gains yesterday as polling data continued to favour the Conservative party in the upcoming election.
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The pound recorded some short lived gains yesterday as polling data continued to favour the Conservative party in the upcoming election.
Rising hopes that the UK could avoid a hung parliament helped to lift the pound at the start of the week.
The mood towards the pound soured in the wake of a disappointing set of UK retail sales figures.
October’s UK consumer price index proved weaker than forecast yesterday, with the headline inflation rate dipping from 1.7% to 1.5% on the year.
A weaker-than-expected month of UK wage growth put a dampener on the pound yesterday, limiting the impact of an improved unemployment rate.