February is proving to be another positive month for the UK economy as better-than-expected data brightens the pound & indicates a rebound after a fourth-quarter halt.
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As traders calmed over the spread of the pneumonia-like virus in China, the USD edged higher, while Germany’s DAX index posted a record high.
The Chinese Yuan tumbled against the USD today after the spread of a pneumonia-like virus in China triggered a sudden bout of risk aversion, disrupting world markets.
The British pound fell by 0.5% today as investors prepared for further uncertainty after the UK’s Supreme Court ruled PM Johnson’s decision to suspend parliament as unlawful.
Official data showed that prices of good and services, paid by consumers, only increased at an annual rate of 1.17% last month. According to a Reuters poll of economists, it was estimated to hit a rate of 1.9%.
The pound fell from its six-week highs against the dollar today as PM Johnson continues with his pledge of taking Britain out of the EU by October 31st.