It was a nervy start to the week for sterling against the euro, weakening initially, then strengthening by half a cent and ultimately ending up where it began.
The afternoon session was more positive against the US dollar, and the pound remains worth more than at almost any time since the Brexit referendum.
It was a quiet day for economic data, but what emerged was generally positive for sterling, including another acceleration in UK house prices to 9.5% year on year according to the Halifax.
This morning we’ve seen sterling tracking slowly downwards, although certainly not decisively.
The news focus should shift from domestic to more international matters later this week as President Biden flies into the UK tomorrow for the G7 summit starting in Cornwall the following day. It is Biden’s first trip outside the US as president and will be seen as a vital showcase for the UK post-Brexit.
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