By James Lovick

It should be an interesting day with some major releases this morning. We have the Bank of England inflation report at 09:30 – Expect to see volatility for sterling euro exchange rates. If the report suggests inflation will fall significantly then we could see foreign exchange for currency become more expensive. The pound is likely to fall if the figures are low. We also see unemployment data released this morning which could weigh heavy for the pound and make currency transfers more expensive. Unemployment is widely forecast to reach 2.5 million.