Sterling is falling against the euro and the dollar at the end of the week.
Yesterday there was a leap in the CBI distributive trades survey in August, from -4 last month to +37, with retailers reporting overall growth and with higher expectations for next month too. Despite this, market sentiment was pessimistic overall, with retailers reporting low investment expectations.
Car production also rose, by 8.6% in July, signalling the end of the global chip shortage. However, this remains close to half the pre-Covid level.
There are also fears from UK pubs about a lack of CO2 available. The boss of the British Beer and Pub Association said the timing of the news “couldn’t be worse”.
GBP/USD past year
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