Falling UK inflation inspires fresh pound losses
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.
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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.
The pound remained muted as MPs waited for the verdict of EU leaders on the matter of a fresh Brexit deadline extension.
With Boris Johnson’s proposed Brexit withdrawal agreement on ‘pause’ the odds of a fresh delay to the Brexit deadline increased.
While Boris Johnson’s Brexit plan failed to get over the finish line on Saturday the pound still found cause for confidence at the start of the week.
After Boris Johnson was forced to seek a three-month extension to the Brexit deadline the pound remained under pressure.