020 7898 0500Sterling saw a positive end to the week, drifting higher against both the euro and US dollar as it found support across the board despite lingering fears over a potential Brexit.
A quiet start to the week for sterling, with no significant economic data set to be released until Wednesday. However, investors will be keenly awaiting the testimony of Bank of England (BoE) Governor Carney on tomorrow, in case he should reveal any further thoughts on future monetary policy.
Wednesday will be a key date for sterling as we see the release of labour data from the UK, with wage growth expected to remain at a healthy 2.1% over the past three months. Unemployment is also forecast to remain at 5.1%, although any variation from this figure could see significant movement for sterling. Wednesday will also see Chancellor George Osbourne speaking to the Treasury Select Committee about the costs and benefits of the UK’s membership in the EU.
Retail sales data will cap the week off on Thursday, with investors hoping for an increase from the previous month’s contraction of 0.4%.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
