020 7898 0500Sterling clawed back some further ground on Friday, moving to a fresh one-month high against the US dollar and recovering much of the losses it had made against the euro throughout the week.
A relatively quiet week for sterling lies ahead, with no major data set for release until consumer inflation figures tomorrow. After slipping into negative territory earlier in the year, inflation is expected to push to a one-year high of 0.4%. Although this is still well short of the 2% target set by the Bank of England (BoE), it does show that progress is being made on this front. The only other major data release this week is retail sales on Thursday. Last month saw the highest monthly increase since January 2014 in retail sales, and another strong reading would provide sterling with support. A bank holiday on Friday will likely result in reduce liquidity in sterling markets, dampening potential movements.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
