Sterling enjoyed a relatively stable Monday, barely moving against most of its major rivals. However that has all changed this morning as revised S&P Global CIPS PMI data took the markets by surprise.
Against the US dollar the pound has weakened by half a cent this morning.
Later there will be a financial stability report from the Bank of England (BoE) ahead of a speech by BoE governor Andrew Bailey and another by Silvana Tenreyro from the BoE’s monetary policy committee
There will be more speeches by BoE rate-setters in the coming days, and the Halifax house price index on Thursday, which is expected to show a slowing down.
