GBP-
The Pound is under serious pressure again today, this time the result of a soft domestic figure, with a Sugar glut torpedoing GBP's recent strength. I would say personally that I on my own drive up sugar prices with my personal consumption and it must be understood that any drop in sugar prices will likely have a big effect on overall food inflation.
And that it has, with prices increasing only 1% YoY in October, down from 1.4% in September.
GBPEUR has been especially hard hit, sinking to a 3 year low in what represents a great opportunity for anyone looking to repatriate profits of a European house sale or other items. Bets of a cut from the BoE next week are up at 30%, close to the highest since August. I'm still very skeptical, but time will tell what the BoE is truly feeling.
Markets Today
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