After weakening yesterday morning following the vote of confidence, the pound made a surprise recovery against a handful of currencies in the afternoon.
This boost seemingly occurred for no clear reason. Sterling has now plateaued against the euro and the dollar and is still trading around strong levels this morning.
Data released this morning shows that there are signs that the UK housing market is cooling. Annual price rises eased to their slowest pace since January in May.
Later today, GDP and employment figures will be released for the eurozone, which could set the tone for the European Central Bank’s monetary policy meeting tomorrow. Officials are expected to pave the way for interest rate hikes over the coming months.
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