​EBC Markets Briefing | Pound muted; investors cheered by Intuit partnership

Sterling was flat during the Asian trading session on Thursday. British companies are seeking deeper trade ties with Europe, business groups told CNBC, in an attempt to hedge Trump's erratic policies.

The tariff rate for some countries will rise to 15% or higher from the newly imposed 10%, US Trade Representative Jamieson Greer said, without naming any specific trading partners or giving further details.

British inflation fell to its lowest since March in January. It is expected to slow sharply in April as last year's rises in utility costs and other government-controlled tariffs fall out of the annual comparison.

BOE Governor Andrew Bailey said on Tuesday that a March rate cut was possible, although he noted that services price inflation had not eased as much as hoped in recent data.

Meanwhile, government swung to a record monthly budget surplus helped by higher tax receipts, as separate figures published on Friday showed both retail sales and growth in private sector activity picked up.

But the economy barely grew in Q4, missing economists forecast, though PMI showed a solid rise in output across manufacturing and services in both January and February.

The pound breached the 50 SMA earlier this week, on track for a retest of the high around $1.3580 hit in 18 February. If it is able to cross the level, another leg higher is very likely.

Asset recap

As of market close on 25 February, among EBC major products, Intuit shares led gains after announcing partnership with Wix.com to bring trusted financial intelligence and AI agents to customers.

PulteGroup's recent decline occurred despite its Q3 2025 earnings report exceeding expectations. That highlights scepticism about the company's long-term profitability amid a challenging housing market.

Expectations of higher interest rates in Australia have lit a fire under the bond market, pushing yields well above their US counterparts. The Australian dollar increased amid growing interests in carry trade.

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