A mixed day for sterling has seen it recover lost ground against the euro while falling away against the US dollar. With very little data released from around the globe, sterling found itself under pressure from the US dollar throughout the day. Following lagging wage growth in Friday’s jobs report, the US dollar fell away at the end of last week, but rallied strongly on Monday to recover some lost ground against sterling. A more positive performance was seen against the euro, with sterling reversing losses seen at the end of last week as an independent poll showed 80.7% support for independence for Catalonia, currently part of Spain.
It looks set to be another quiet day in the markets, with no data released from the UK, and a bank holiday in the US to mark Veteran’s day likely to reduce trade volumes.