020 7898 0500With no significant data released form the UK, sterling took a bit of a breather from the on-going political uncertainty and was relatively flat against the US dollar on Monday, hovering close to the 11-month low we saw last week, whilst trading in a narrow range against the euro in what was a surprisingly quiet day for the pound.
Today we see the release of some key data from the labour market. The Average Earnings Index will likely draw the closest attention from investors as the Bank of England use wage growth as an important indicator when deciding on their next interest rate decision. Alongside this we see data showing the change in the number of people claiming unemployment-related benefits during the previous month, whilst forecasts suggest that the overall level of unemployment will likely remain at 4.2%. Later this week we will also see retail sales and inflation data released. Outside of this, any news relating to Brexit will likely cause a reaction in the market.
