Eurozone inflation data as well as GDP data came out very similar to expectation this morning and so the impact this has had on Sterling vs Euro has been minimal.
The Greek deadline for their next bailout is next Thursday 20th August and as yet the deal has not been fully ratified.
However, like with all the previous deadlines and bailouts the country always gets the money it needs so I think the same will happen next week as well.
If this does occur I think we could see Sterling falling vs the Euro to lower levels than we are currently at.
Next week the UK releases its own set of inflation data in the form of both CPI & RPI on Tuesday morning.
With inflation a key element as to when to change interest rates or monetary policy if the data is lower than the expectation this could put the argument for raising UK interest rates further into the future.
This could therefore result in Sterling falling vs the single currency.
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