UK inflation in focus for the session ahead

The pound will be a focus point in the session ahead as we will be getting UK inflation data, with the annual consumer inflation print estimated to inch closer towards 10%. With the cost-of-living crisis worsening, it’s hard to imagine these numbers providing much comfort as it strikes at the heart of the BOE – who are struggling to deal with this all.

Major currencies are mostly little changed on the day with the dollar sitting more mixed in general, while overall risk tones are looking more tepid with Treasury yields also not offering much for traders to work with.