Sterling has a steady start to the week

With no data relating to Britain and its currency released yesterday, sterling unsurprisingly remained largely anonymous. Sterling lost a little ground against a stronger US dollar, but performed better against the euro, climbing back towards 1 month highs. In contrast to yesterday’s blank on relevant data, today kicks off a busy rest of the week for data with the release of the Consumer Price Index, a key indicator for inflation. Inflation itself is in the spotlight following last week’s statement from the new Governor of the Bank of England, as we now know that interest rates could be increased should inflation remain over 2.5% for the next 18-24 months, while the linked unemployment data due on Wednesday could probe even more influential. Call your trader now for the up to the minute prices for the currency.