The GkF Uk consumer sentiment survey remained at its record, 48-year, low in July:
-41 vs. -42 expected and -41 in June also,
Reuters report:
- Joe Staton, client strategy director at GfK, said a two-point rise in hopes for personal finances over the next 12 months might reflect optimism after Prime Minister Boris Johnson said he would resign. But the overall index reflected acute concerns about the general economic situation. With inflation heading for double digits from more than 9% in June, the Bank of England is expected to raise interest rates for the sixth time since December next month, despite a slowing economy. It says it is prepared to act “forcefully” if needed.
The data is not an FX mover upon release, GBP is circa 1.1990, down about 10 points from just over 1.2 when the data was released.
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