Pedro Goncalves writes:
The pound was steady this morning as traders await the latest inflation figures due on Wednesday.
Sterling was higher against the dollar, up 0.1% at $1.3520, and remained flat against the euro at €1.1570.
The upbeat UK gross domestic product (GDP) report for the second quarter could complicate the Bank of England’s path to cutting interest rates further and might help limit the pound’s losses. GDP growth slowed to 0.3% in the three months to June, down from a rate of 0.7% in Q1, but stronger than expectations of a 0.1% expansion in the reported period.
The US dollar index (DX-Y.NYB), which measures the greenback against a basket of six currencies, was down 0.2% to 98.03 on Tuesday.
In equities, the FTSE 100 (^FTSE) was muted on Tuesday morning at 9,157 points. For more details, on market movements check our live coverage here.
