020 7898 0500The pound ended last week by strengthening further against the dollar and its performance in 2018 has been pretty impressive. It has also performed well against the euro of late and the question really is how long can the run continue. It is worth taking sterling’s performance against other currencies into account when we look at its movements against the dollar; GBPUSD would be trading somewhere near $1.28 if it matched sterling’s wider performance against the currency basket. Clearly, sterling’s run is down to dollar performance as opposed to UK factors.
Today is a quiet start to the week for UK economic data, but tomorrow we will have the unemployment rate for February. It is expected to hold steady at 4.3% which would be encouraging. Wednesday sees the inflation rate for March released and it will be interesting to see whether inflation will fall again.
