The pound strengthened against the euro at the end of last week and is still trading around those levels this morning following the Prime Minister’s resignation. However, it is slightly weaker against the dollar.
Bank of England governor, Andrew Bailey, is due to speak tomorrow ahead of UK GDP figures, which will be released on Wednesday. Monthly GDP for May is expected to come in at 0%, a slightly uplift from April’s figure of -0.3%.
Analysts have warned this morning that the UK’s energy price cap could move above £3,300 per year next January under Ofgem’s new quarterly cap changes.
