Out of bounds
pound rises above the lowest level in 3 weeks , the
pound rose against the dollar and the euro, on Monday, to move away from the lowest level in three weeks a busy week with data expected before the biggest pressure on British consumers appear.
These increases pushed sterling, to the level of $ 1.2400 and 1.1720 euros and comes despite signs that British consumers are becoming more cautious about their spending.
Data from the Visa credit card company, spending fell on a monthly basis in March and record the weakest quarterly rate since 2013 after a strong end in 2016.
This is an indication of economists ahead of inflation data to be released on Tuesday, where it is expected to remain inflation above the level of Monday percent target by the Central Bank of England, which keeps the pressure on disposable income and perhaps sterling.
The rise in sterling, on Monday, is the first in three sessions comes after the first weekly decline in the currency recorded in four weeks last week.
inflation rate continues to rise in the cities but at a slower pace of the
Central Agency for Public Mobilization and Statistics data showed, on Monday, that the annual inflation rate in the cities of Egypt jumped to 30.9 percent in March, its highest level since June 1986 when it stood at around 35 percent.
Inflation continues to rise so for the fifth consecutive month, after he arrived in February to 30.2 percent compared with 28.1 percent in January, but the pace remains high this month is the least over the last five months.
Reham ElDesoki of Capital figures for "Reuters", " the impact of inflationary shocks resulting from the liberalization of the exchange rate and increase the prices of petroleum products last November began to fade."
Egypt gave up on the third of November for pegging the pound to the US dollar exchange rate. The government is working to liberalize energy prices are fully during 2018-2019, according to its agreement with the International Monetary Fund.
She ElDesoki "there were not inflationary pressures unusual in March, inflation figures in April would reflect inflationary pressures for the holidays and prepare for the holy month of Ramadan."
Egypt is witnessing enormous leaps in the prices of basic and non - basic commodities since float the pound.
On a monthly basis , the pace of consumer price inflation in the cities fell to two percent in March from 2.6 percent in February and 4.07 percent in January.
And the provision of food at affordable prices of citizens is a sensitive issue in Egypt , where millions of people live below the poverty line and saw the overthrow of two presidents in six years , partly because of discontent over the economic situation.