The pound is drifting within a relatively narrow range against the euro, with the uncertainty over when and in what form lockdown easing will take place in the UK. Further downward pressure was exerted yesterday by retail sales acidity, which the CBI reported to have hit a record low, equalling that of 2008. Expectations for a further fall are also at the highest in the survey’s history.
There are few data releases today, although house prices are expected to show a drop into contraction territory tomorrow.
