Sterling was mostly unchanged against the dollar and rose slightly against the euro yesterday. This week has been fairly light on data for the UK, so events elsewhere or any Brexit news could have an effect on sterling. Any signs of overall global sentiment improving or declining after a speech from Federal Reserve Chairman, Jerome Powell, could in turn, influence the pound.
Governor of the Bank of England, Andrew Bailey, is due to speak at the Jackson Hole Symposium tomorrow afternoon, which could spell some volatility for sterling. Markets will be looking for any signs that the Bank is considering an interest rate cut.
Car production figures were released for the UK this morning, showing an increase in July compared to June, as the sector picked up. However, production is still down year-on-year.
Fifty of the UK’s biggest employers revealed yesterday that they do not plan to have their staff return to the office full time in the near future. Almost half said that they do not have any plans for workers to return to the office. This is mainly due to difficulties with social distancing when the office is at full capacity.
