The pound has fallen marginally but across the board following warnings of further Covid restrictions. It’s down between 0.1 and 0.35% compared to this time yesterday against all nine other major currencies except for NOK and NZD.
Yesterday’s data releases included the CBI’s order book balance which slipped slightly to +24 in December, but that was from a record high the previous month.
This morning we’ve had Public Sector Net Borrowing for November, which showed a bigger than expected level of borrowing last month at £-17.4bn.
Later today we’ll have CBI Distributive Trades. Last month showed a first-ever fall in online sales and rise in high street retail sales. This is unlikely to be repeated for December.
