Sterling recovered slightly yesterday but is still under pressure as Boris Johnson suggested that we could end the Brexit transition period without a trade deal.
Construction PMI for the UK was released yesterday morning, showing an improved reading of 48.4 from 44.4 in December. This figure beat expectations but shows that the sector is still in contraction territory.
Today we’ll see both services and composite PMI data released, with both expecting a slight improvement. Services PMI is expected to show a strong reading of 52.4, which could stabilise the pound.
