020 7898 0500In all the time I have been writing the daily currency note, I am not sure there has ever been a quieter day from an economical standpoint. While it is true that sterling clawed back some of its recent heavy losses against the euro and US dollar, it is also true that there wasn’t any particular reason for this.
As such, there is no real way to gauge how the pound will move today. There are some UK data releases today in the form of the balance of trade report, as well as the manufacturing and industrial figures. A positive reading could further bolster sterling, but right now it is impossible to call.
The chart below shows sterling movements against the US dollar over the past month. When a chart looks like that, it really does highlight the recent volatility between the pairing.
