Following a positive week which saw it reach a new sixteen-month high against the euro, sterling struggled to hold ground on Friday. With no major economic data released from the UK, sterling found itself pegged back as new home sales in the US came in better-than expected.
Following a quiet day yesterday, the week ahead sees very little data out from the UK. Looking towards the end of the month, sterling will be hoping to hold near its recent record highs with an increased focus on potential interest rate hikes following a succession of positive data releases from the UK. With a slew of economic data, and the official bank rate, due out the following week, sterling will be hoping to hold its position.
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