The British Pound Sterling has taken a plunge, after enjoying one of its strongest weeks since mid-November last week. This morning the local currency dropped by 0.1pc to $1.2510 against the US dollar.
The latest figures showed German consumer price inflation hit 1.9 percent in January. While that was the highest in three-and-a-half years, it was slightly below forecasts for a 2 percent annual rise.
The FTSE 100 has slumped to a one-month low this morning despite a sharp move lower in the pound. Joshua Mahony, of IG, weighs in on the move in the FTSE:
After a stellar start to the year, the FTSE 100 has slumped to its lowest level of 2017.
The blue chip index surrendered as much as 67.08 points, or 0.93pc, hitting 7,117.41. That’s its lowest level since December 30 when it touched 7,087.54.
Meanwhile, the Euro dipped to an 11-day low against the dollar on Monday, January 30, after German inflation data came in slightly weaker than expected.
