Sterling began the week in positive fashion before weakening against the majority of its trading partners after worse than expected mortgage approvals data was released. The data showed a surprise reduction in the number of mortgages approved for October when compared to September. Sterling has been pushing to year highs against the US dollar and multi-year highs against the Canadian and Australian dollars on the basis that the UK economy is in a sustainable economic recovery . The key test for sterling this week will be growth figure for the third quarter released tomorrow which is expected to be 1.5%. In the meantime, this morning sees the inflation report hearings from the Bank of England (BoE) which will include the central banks economic outlook. Call now for a live update on the market.