Sterling was weak against the euro and stronger against the dollar throughout the course of yesterday. However, it is weaker against the dollar this morning. Like last week, the pound has Brexit talks to contend with, and any news from this could affect sterling.
As well as this, Rishi Sunak will reveal more details about government spending tomorrow. Yesterday he announced that the government will introduce a £111m scheme to encourage businesses to hire trainees and has also pledged to support the arts with a £2 billion funding package. However, the Culture Secretary said that this money, aimed at supporting theatres, the music industry and so on, would not save every job.
Data released yesterday revealed that UK Construction PMI jumped to 55.3 in June 2020 from 28.9 in the previous month, showing that the sector has reopened its supply chain following lockdown restrictions.
