Sterling has held on to its gains against both the euro and the dollar ahead of a busy week for UK data releases.
Employment and labour productivity figures will be released for the UK tomorrow, with inflation rate data on Wednesday and retail and PMI figures on Friday. This data will reveal more about how the economy has performed in April and May, since the easing of lockdown restrictions. Any figures that come in worse than expected could put pressure on the pound.
Lockdown restrictions enter their next stage of easing in England, Wales and most of Scotland today. This is despite concerns over the Indian variant, which Boris Johnson said that he is “anxious” about. It’s thought that the vaccine effort will accelerate in parts of the country where the variant is spreading.
