Yesterday the pound continued to gain strength against the euro but fell slightly against the dollar. This morning sterling is still strong against the euro and has leaped ahead of the dollar in the wake of US GDP predictions.
It’s a quiet week for UK data releases. Today CBI distributive trades figures will be announced giving markets an insight into the health of the UK’s retail sector. Last month’s reading revealed that retail sales continued to fall slightly (from -5 in June to -4 in July). This month, those figures are expected to make an even steeper fall to –14.
