There are several key data releases scheduled in for this week that could sway the pound against its rivals. The one to watch will be the UK’s GDP, issued by the Office for National Statistics on Friday.
In the previous release, market participants saw better than expected figures month-over-month. Britain’s economy expanded 0.5% in October, which was the biggest increase in nearly a year and above forecasts of 0.4%. However, it could be a different story this week as the economy is forecast to contract in the latest month-over-month data.
