Tensions are brewing in the Middle East, after US and Iran exchanged fire against each other in the Strait of Hormuz, in the early hours.

The Bank of England has maintained the base interest rate at 3.75%, though it issued a firm warning that hikes are looming. The primary driver for this hawkish shift is the ongoing conflict in Iran, which continues to exert significant inflationary pressure on the UK economy.

UK retail sales rose in March by 0.7%. Numbers came in a lot higher than its forecast of a 0.1% increase, after February showed numbers in red and a downfall of -0.6%.

UK retail sales rose in March by 0.7%. Numbers came in a lot higher than its forecast of a 0.1% increase, after February showed numbers in red and a downfall of -0.6%.

The US Dollar has regained ground this morning against both Euro and Sterling overnight as traders are seemingly concerned about the next round of negotiating talks between Tehran & the US, as potential talks look to have fallen through.

The global currency market operates as a complex system where macroeconomic forces, policy decisions, and investor expectations intersect to determine value.

UK Inflation for March climbed sharply as motor fuel prices pushed the released figure to 3.3%, notably up from February's 3% release.

The UK economy expanded more than expected in February, with the 0.5% growth exceeding initial forecasts of 0.1% growth. The main driving force behind the growth was due to both the services activity and industrial production both increasing by 0.5% each.