After falling significantly at the end of last week, the pound starts the week in a similarly weaker position against the euro and has fallen even further against the dollar.
Sterling is now trading around a two-year low against the dollar and yearly lows against the euro following the Bank of England’s interest rate decision on Thursday.
It’s a light start to the week, with several speeches from Bank of England officials being the highlight. Markets will be listening for any comments regarding the recent interest rate hike as well as any future hikes.
The data calendar will become a little busier on Thursday when we will see GDP figures, balance of trade figures, and industrial and manufacturing production figures.
