020 7898 0500Sterling weakened against the dollar yesterday and made some very slight gains against the euro, despite some positive data from the eurozone. Theresa May’s cabinet reshuffle did not exactly inspire and the resignation of Toby Young and Justine Greening didn’t help matters all that much either.
However, attention will turn towards economic data today with the release of the balance or trade report for November. In some quarters, it is felt that the UK’s deficit on trade in goods and services will widen to £2.2 billion from £1.4 billion. However, it is worth noting that the £1.4 billion figure came in against an expectation of a £3 billion deficit and so it was extremely encouraging at the time.
We will also see the industrial, manufacturing and construction production figures for November. It will be interesting to see how the UK economy performed towards the end of 2017.
