The end of last week saw sterling fall significantly – almost 2% – against the euro and dollar. This was due to a relatively dovish approach from the Bank of England on interest rates compared to other central banks. The fall was despite several important data releases last week being better than expected, including inflation and GDP, although retail sales were shown on Friday to be unexpectedly low.
After a hectic week for data last week, the run up to Christmas is relatively light on data. However, today there will be CBI Industrial Trends and on Thursday a final recording for the GDP for the quarter, which could hold a pre-Christmas sting in the tale for sterling.
GBP/USD: the past year
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