Sterling strengthened very marginally against the US dollar yesterday but more markedly (roughly 0.3%) against the euro. It has since dropped against USD.
Apart from slightly downbeat news on car production (except from an eco-basis, since electric sales rose) there was little for the markets to chew on, or cheer about. It’s been that kind of a week, with disappointing PMI data driving sterling down on Wednesday.
Perhaps the Chancellor can revive sterling in his speech at 9am today, especially in outlining potential gains from Brexit for financial services.
There are no more top-level data releases this week or early next week. Matters liven up considerably mid-next week, however, with the interest rate decision on Thursday.
GBP/EUR past year
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