Sterling’s recovery this week came to a halt at around the time that the most dovish member of the Bank of England’s nine interest rate setters, Silvana Tenreyo, was telling parliament that interest rates are already too high.
However, the pound remains well ahead of Monday’s level against the euro. Equivocal GDP data this morning is still being digested by the markets but there has been no decisive change in direction so far.
Will that change next week? It’s a busy one for potentially market-moving data, with employment and earnings relases on Monday, inflation on Wednesday and retail sales on Friday.
GBP/EUR past year
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