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Sterling holds ground as UK inflation ticks higher

Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv LONDON, April 21 (Reuters) - Sterling held its ground against the dollar on Wednesday as traders assumed a rise in inflation in March would have little impact on monetary policy and waited for crucial activity and retail sales data due at the end of the week. Consumer price inflation rose to 0.7% in March after dipping to just 0.4% in February, as global oil prices rose and retailers scaled back their COVID-driven discounts. “CPI isn’t a story that will be driving sterling in the short term”, said Jeremy Stretch, a foreign exchange strategist at CIBC Financial markets.

A double-dip recession in the eurozone is increasingly inevitable

A double-dip recession in the Eurozone is increasingly inevitable due to Covid-19, with France among the countries most seriously hit, experts have warned.  The slowdown in Eurozone business activities intensified in January as the pandemic continued to batter the economy, a key survey showed on Friday. The closely watched PMI index compiled by IHS Markit is considered the earliest indicator of the state of the economy and the latest reading confirmed fears that the year-old virus crisis is still going strong.    France was among the hardest hit Eurozone nations, according to the closely watched PMI index compiled by IHS Markit, amid concerns over the country s vaccination roll-out. Pictured: Metal barriers block the access to the pyramids of the closed Louvre museum in Paris

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