The pound is well supported against the euro and the dollar ahead of a busy week for economic data releases.
A series of employment figures will be released tomorrow followed by inflation rate data on Wednesday. The markets will be watching the inflation figures closely, as they should give an insight into how price pressures may rise above the Bank of England’s target of 2%.
The previous figure for June was 2.5% and expectations suggest that July’s could come in slightly lower at 2.3%.
Consumer confidence and retail sales data will finish the week, both expected to show little change month-on-month.
