A great week for sterling has seen it improve across the board as data from the UK shows sustained growth in line with that seen throughout the last quarter. Growth data from both the UK manufacturing and construction industries came out better than expected this week, which sent sterling to highs last seen during the Olympic of 2012 against the euro, and reach a level against the US dollar not reached since mid-2008. This strength was not unduly undermined by the service sector data not meeting expectations on Thursday. Also sterling was helped by robust employment data out of the US and poor economic data out of the Eurozone including inflation not hitting expectations.
Today sees little economic data released across the board, and sterling will look to hold its strong position as we look towards next week.