Sterling pound traded sideways in the international markets however it rose in domestic markets by 0.35 percent (GBPINR) in the last week. There were a host of data releases in the last week which played with pound’s price movement. High inflation rate is interfering with consumer’s spending habits which in turn has affected retail sector.
UK employment report for the fourth quarter received a lukewarm reception from financial markets. Today, GBPINR is expected to trade lower on the backdrop of weak earnings and inflation report in the last week.
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