020 7898 0500A tougher week for sterling saw it struggle against the US dollar and stutter against the euro, although it is still very close to eight year highs against the euro.
Monday was a UK bank holiday and the flow of UK economic data since then has been limited. On Thursday we had the second estimate of economic growth for the first quarter of 2015 which was 0.3%, slightly below the expected 0.4%.
Greater influences on sterling have come from elsewhere. The Greeks are convinced they are close to a deal with their lenders which has boosted the euro during the week. Their lenders, from the rhetoric, seem not to be so convinced. Still lots of uncertainty in this Greek saga. In the US, economic data has taken an upturn which has boosted the US dollar as talk of increasing US interest rates has restarted.
