After hitting three-month highs against the euro on Thursday, sterling struggled to hold onto these levels on Friday with no major economic data released to sway the currency.
A quiet week lies ahead for sterling, with limited economic data releases. Public sector net borrowing figures for April are released tomorrow with an expectation of an increase to £6.4 billion. Any surprise to the downside could lend support to sterling. Thursday brings the release of the latest economic growth figures from the UK as the second estimate of gross domestic product is revealed. This should show the same 0.4% growth recorded throughout the previous quarter, although any difference from this figure could result in sterling movement.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.