The pound is weaker against the euro and the dollar this morning after weakening towards the end of last week. This was mainly due to euro and dollar strength.
This week, the pound has the European Central Bank’s monetary policy meeting to content with, which could impact sterling indirectly. The ECB’s guidance on interest rates and the future of monetary policy could indicate how the Bank of England’s interest decision unfolds next week.
PMI figures, which indicate how the services and manufacturing industries performed in May, will be released for the UK tomorrow. It is expected to show that growth in both sectors slowed last month. We’ll also see retail figures and house price data this week.
