Could strong data this week help sterling in the face of EU Referendum speculation?

A tough end to the week on Friday, as sterling fell rapidly across the board with investors looking to shore up their positions ahead of the weekend.

With the EU referendum next week, we expect speculation over the result to continue to dominate market movements over the next ten days. Aside from this, inflation data will also be released from the UK tomorrow, and is forecast to show price growth of 0.4% compared to 2015. Wednesday’s jobs report will reveal average earning figures over the previous three months – which are expected to meet the Bank of England (BoE)’s expectation of 1.7%, whilst unemployment looks set to remain at record lows. “Super Thursday” brings the release of retail sales data for the previous month along with the Bank of England’s latest interest rate decision.

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