The pound is relatively unchanged this morning, strengthening slightly against the euro and weakening slightly against the dollar.
There are no data releases for the UK today meaning that the outlook for sterling largely depends on global influences such as the Ifo Business Climate indicator for Germany and the Durable Goods Orders for the US, which will be released later today.
Markets are also waiting for the US Jackson Hole Symposium, held virtually on Friday.
Property sales fell in the UK in July as the Stamp Duty tax break ended. However, Iain McKenzie, CEO of The Guild of Property Professionals, urged people to “take the figures with a pinch of salt” as there was a huge number of properties sold before July because of the Stamp Duty break. Nonetheless, he acknowledged that “a 62.8% [seasonally adjusted] decrease in transactions is a big fall”.
