The US dollar remained unstable on Monday, moving nearly a cent against sterling. Two data figures were released, Final Services data and ISM Non-Manufacturing Purchasing Managers’ Indices; these both showed growth, but unfortunately fell below expected figures.
We expect today to be a quiet day for data. The Trade Balance release is due, but this is expected to show a similar figure to last month. The main focus this week will be on the US Federal Reserve minutes on Thursday – where the spotlight will once again be on the possibility of an interest rate hike this year.