The pound strengthened by around 0.2% over the course of the past 24 hours, powered by the announcement on the ending of pandemic restrictions in two weeks.
The stock market responded with gains across travel, retail and leisure sectors.
Business activity showed a sharp rise in June, with UK services PMI being 62.4 for June. This is a strong recovery in the services sector, almost at May’s record-breaking levels. Potential issues down the road, however, are staff shortages and the rising costs of inputs.
At 9.30 today it will be the turn of Construction PMI which is anticipated to be even stronger, and tomorrow we’ll be hearing more on house prices, from the Halifax House Price Index.
