The National Statistics Office of Great Britain from the opening of the European trading session will publish a release on inflation for March. Against the background of a low base in spring 2020, consumer prices can be expected to rise.

Moreover, labor market data signal a possible acceleration in inflation. The unemployment rate in February fell to a five-month minimum to 4.9%, and the growth rate of average earnings for the third month in a row exceeds 4.5%. Better-than-median inflation data may provide good support for the British currency in the short term.

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