Following the release of disappointing UK retail sales figures and consumer confidence data last week, the pound is weaker against both the euro and the dollar this morning.
UK retail sales came in lower-than-expected in March, whilst consumer confidence was at lower levels than those seen around the 2008 financial crisis. This week, the markets will be looking to speeches from Bank of England officials for any comments surrounding the UK economy and interest rates.
Emmanuel Macron’s Presidential win has given the euro a boost. After winning 58.6% of the vote against Marine Le Pen, Macron said he would be a “president for all” and that “an answer must be found to the anger and disagreements that led many of our compatriots to vote for the extreme right.”
The dollar is benefitting from its status as a safe-haven currency this morning due to global growth concerns.
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