Sterling was little changed on Friday, although it did slip to its lowest level against the euro since March 2014 despite better-than-expected manufacturing growth throughout June.
The week ahead promises to deliver further surprises as Brexit fallout continues to spread throughout markets. There are, however, a number of economic data releases due from the UK this week, which could provide some interest for investors.
Purchasing Managers’ Index (PMI) data from the construction industry will be released later today, whilst the more influential figures from the services sector are due tomorrow. Bank of England (BoE) Governor Mark Carney will also be speaking tomorrow for the first time since promising a fresh wave of easing over the summer, and markets will be alert to further updates which could affect sterling. Finally, Thursday’s manufacturing production figures will hope to emulate the strong growth seen in the industry this month.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.