The pound is still trading around key levels against the euro and the dollar this morning ahead of the Bank of England’s latest monetary policy meeting, which is due to take place on Thursday.
Although sterling was stronger last week, disappointing retail sales figures on Friday, which showed a second consecutive decline in sales for August, caused the pound to weaken. All eyes will be on flash PMI figures on Thursday morning ahead of the Bank of England’s meeting in the afternoon.
The Bank of England’s recent ‘hawkish’ stance suggests that it could hike interest rates ahead of other central banks. The markets will be listening out for any comments surrounding this on Thursday.
