Sterling has strengthened again this morning, going beyond yesterday morning’s gains and rising fractionally above the €1.20 mark.
Whether it can sustain that level will depend on how the markets view the post-Covid economy as they look to the spring. Read more about that in our new Quarterly Forecast, which will be out next week.
Early this morning British high streets reported a decrease in retail sales in December compared to the previous year, as social distancing in the face of the Omicron upsurge encouraged shoppers to buy online instead. The supermarket Aldi, however, is boasting this morning that it’s the only UK supermarket to increase sales on both 2020 and 2019.
There is a mixed bag of fairly low-level data releases this week, including a final reading for labour productivity, before things liven up with Balance of Trade, GDP and various industrial output figures on Friday.
