Cable sits at 1.6815, steady in early European trade.
MPC member Andrew Sentance has come out and said the UK emerged from recession in the quarter between July and September, contradicting initial figures published by the Office of National Statistics (ONS). What’s that all about?, I’m totally confused. Bring back Danny Blanchflower pleeeeeeze!!!
Data due today:
09:30 GMT: UK CPI for October expected +0.1% m/m, +1.4% y/y Core +1.8% y/y.
09:30 GMT: UK RPI for October expected +0.1% m/m, -1.0% y/y, ex mort int pyts +1.8% RPI index 215.8.
Initial technical support 1.6795/00, resistance 1.6845/50.