020 7898 0500A third straight month of better-than-expected non-farm payrolls data from the US saw sterling fall to a fresh five-year low against the US dollar on Friday. With investor sentiment largely against sterling, the currency also fell to an 11-month low against the euro with their seemingly being little prospect of a recovery in the short-term.
A quiet start to the week sees no major economic data released from the UK until Tuesday, when manufacturing production is expected to show an increase of 0.1% compared to the previous month. Following poor Purchasing Managers’ Index figures last week, markets will be keen to see any positive data from the UK. Following this, ‘Super Thursday’ will present the next point of interest from the UK, as the Bank of England (BoE) releases its latest interest rate decision. With minutes from this meeting also released , investors will be looking for guidance on the BoE’s monetary policy stance throughout 2016. As such, any surprises could result in significant sterling movement.
