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Sterling rises as markets await UK economic data
Aya El Sayed Published in Amwal Al Ghad on 20 - 02 - 2025

The pound sterling edged up 0.2 per cent to $1.261 on Thursday as traders awaited UK consumer spending and business activity data following a stronger-than-expected inflation report. Against the euro, sterling remained steady at 82.795 pence.
UK inflation rose 3 per cent year-on-year in January, exceeding forecasts of 2.8 per cent, while services inflation hit 5 per cent, raising doubts about further Bank of England rate cuts this year.
Markets are closely watching Friday's retail sales and business activity data after recent reports showed wage growth accelerating and GDP rising 0.1 per cent in the fourth quarter of 2024.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser

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