The pound has started to weaken slightly from highs seen at the beginning of this week. However, it is still trading around strong levels against the euro. Against the dollar, however, sterling touched its lowest level this year, mainly due to greenback strength.
PMI data released yesterday showed that British businesses have experienced the fastest growth in new orders since June this month. Composite PMI, which combines results from the services and manufacturing industries, came in at 57.7, slightly lower than last month but above expectations.
CBI industrial trends orders, which track the number of factory orders across 500 companies, will be released today. As well as this, Bank of England official Silvana Tenreyro will speak today, and the markets will be listening for any comments about interest rates or inflation.
