Pound up on inflation news

UK inflation figures, released this morning, were better than expected – with the core CPI measure showing a 1.8% increase in the year to October.

Higher inflation makes higher interest rates more likely, so the Pound has taken some strength today across the board.

Beware though, tomorrow morning’s Bank of England minutes could throw a spanner in the works if there are hints of more quantitative easing to come. Contact Currency Index if you would like to chat through your options.