This morning, the pound is still struggling against the euro and the dollar as markets remain cautious, opting for ‘safe haven’ currencies such as the dollar.
UK data has also failed to support sterling, as both retail sales and Gfk consumer confidence figures fell month-on-month.
As a result of this global ‘risk off’ attitude, the euro is feeling the pressure too. German PPI figures disappointed markets who will now be looking to next week’s data releases for new insight around the single currency.
The dollar is strong, boosted by market sentiment. Investors will now be waiting for a speech later today by FOMC member, Kaplan, for their next steps.
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