Sterling Euro exchange rates close to 2 year high once again following inflation figures this morning (Daniel Wright)

The Pound crept close to a two year high once again today following inflation figures coming out higher than expected which led to a spike in the value of the Pound against most major currencies.

The higher inflation figure did add to speculation of a rate hike coming sooner rather than later and with a rate hike generally being very positive for the currency concerned the mere speculation of a potential hike can give the Pound strength.

Tomorrow morning we have unemployment figures out for the U.K which may also give Sterling a fairly volatile morning and with expectations for the unemployment level to have dropped a little further again to 6.5% there is a chance that Sterling may be in for a pretty good week all around.

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