At the start of the week sterling fell to its lowest rate since early summer against the euro. Although sterling is still at a low compared to where it was this time last week, sterling continues to make some recovery against the euro this morning.
Against the dollar, sterling continues to make a little more progress.
It remains a quiet week for UK data however tomorrow, markets can expect data on S&P Global/CIPS Manufacturing PMI Final.
In politics, the UK is preparing to name its next prime minister – the announcement will be made on Monday.
Tori Leadership candidate Rishi Sunak “struggled to see” how Liz Truss’ promise of tax cuts is going to “add up” and warned that it would be “complacent and irresponsible” to ignore the risk of markets losing confidence in Britain’s economy.
