The pound has started this week down against the euro and dollar, after the Bank of England once again raised the prospect of negative interest rates. Concerns about Brexit also continue, with last week’s talks said to have made ‘little progress’.
The euro is benefitting from sterling’s weakness this morning, but a number of poor data releases mean it is only a small upward movement, with Eurozone GDP contracting almost 4% quarter on quarter.
In the US, retail sales and consumer sentiment figures, while still firmly in the negative, came in slightly better than forecast, raising hopes of a slow recovery.
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