Sterling has a slow start to Budget week

A quiet start to this week saw sterling fall away from Friday’s one-month high against the US dollar, with their being a lack of economic data available to support the British pound. No significant data was released for any major markets on Monday, and investors appear to have their sights trained on the central bank announcements from both the UK and US later this week. Sterling therefore spent Monday trading within narrow bounds across the board, with the most significant losses experienced against a US dollar that is looking to claw back ground lost in the previous week.

Another quiet day lies ahead for sterling, with investors waiting for tomorrow’s double header of labour data and the Government’s latest annual budget release before acting in the markets.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.