US inflation is expected to hit its highest level in nearly 40 years later today.
November's reading is forecast to be in the region of 6.9%, which compares with 6.2% the previous month and will add to pressure on the US Federal Reserve to go faster in withdrawing its post-pandemic economic support.
The inflation jitters will mean a risk-averse session for investors in London, having recouped Omicron-fuelled losses earlier in the week.
There was further pressure on sterling today after the latest reading on UK GDP showed growth of 0.1% month-on-month in October, short of City expectations for a figure of 0.4%.
