Sterling had a steady day yesterday – not surprising as there was little data of note from the country. The UK currency traded within a narrow range against the euro, but managed to make a little bit of ground on the US dollar. This came largely on the back of optimism over today’s retail sales figures, which were expected to show an increase in January. Today is another quiet day on the data front, with no further figures due for release. As such, markets will have to look elsewhere for influence, and it could result in another timid day.
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