{"id":72899,"date":"2022-01-10T12:11:41","date_gmt":"2022-01-10T12:11:41","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72899"},"modified":"2022-01-10T12:11:41","modified_gmt":"2022-01-10T12:11:41","slug":"sterling-edges-up-despite-cooling-uk-economic-data","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/sterling-edges-up-despite-cooling-uk-economic-data\/","title":{"rendered":"Sterling edges up despite cooling UK economic data"},"content":{"rendered":"\n<p>Sterling was on track on Friday for weekly gains against the dollar and euro to start 2022, despite a mixed picture emerging for Britain&#8217;s economy.<\/p>\n\n\n\n<p>The currency has strengthened since mid-December in part due to the Omicron variant of COVID-19 proving less disruptive to the economy than originally feared, analysts have said, with the government only lightly tightening restrictions so far.<\/p>\n\n\n\n<p>Sterling was heading for a 0.4% gain versus the dollar for the week and 0.6% up against the euro.<\/p>\n\n\n\n<p>On the day, the pound was up 0.3% versus the dollar at $1.35720.<\/p>\n\n\n\n<p>Sterling&#8217;s gains partly reflected a weaker dollar across the board, after a December U.S. jobs report missed expectations. <\/p>\n\n\n\n<p><em>To find out more about how we can assist you with your <strong>Second Charge Mortgage<\/strong> please <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/contact-us\/\" target=\"_blank\">click here<\/a><\/em><\/p>\n\n\n\n<p>Against the euro, the pound fell 0.2% to 83.585 pence per euro.<\/p>\n\n\n\n<p>Economic survey data this week showed Omicron has had an impact. Survey data for Britain&#8217;s construction sector on Friday showed growth cooled in December, falling to a three-month low.<\/p>\n\n\n\n<p>A similar Purchasing Managers&#8217; Index (PMI) survey for the services sector on Thursday showed the biggest loss of momentum since the country was last in lockdown, falling to a 10-month low in December. <\/p>\n\n\n\n<p>The pound has nonetheless broadly maintained momentum versus the dollar, rising from a one-year low of $1.31615 hit in December.<\/p>\n\n\n\n<p>Investors will closely watch to see if the Bank of England will further tighten policy, with a further interest rate rise expected as early as next month after a surprise hike in December.<\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/markets\/europe\/sterling-edges-up-despite-cooling-uk-economic-data-2022-01-07\/\" target=\"_blank\">Reuters<\/a><\/p>\n\n\n\n<p><em>Discover our <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/\" target=\"_blank\"><strong>Second Charge Mortgage Broker<\/strong><\/a> services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sterling was on track on Friday for weekly gains against the dollar and euro to start 2022, despite a mixed picture emerging for Britain&#8217;s economy. The currency has strengthened since mid-December in part due to the Omicron variant of COVID-19 proving less disruptive to the economy than originally feared, analysts have said, with the government [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1978],"tags":[2179,2104,2075],"yst_prominent_words":[488,189,113,1252,33,485,107,1819,797],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sterling edges up despite cooling UK economic data<\/title>\n<meta name=\"description\" content=\"Sterling was on track on Friday for weekly gains against the dollar and euro to start 2022, despite a mixed picture emerging for Britain&#039;s economy.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" 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