020 7898 0500Following what has been an extremely strong 2018 for the pound against the dollar, yesterday it lost quite a bit of ground as fallout from the uncertainty over the UK government and it’s Brexit direction continued. Over the weekend it was reported that several Tories have questioned whether May can continue as Prime Minister for much longer. We shall see.
There were no economic data releases in the UK yesterday, so currency movements were driven by other factors, but today we have the Nationwide housing prices, mortgage lending and approvals, and the Bank of England’s consumer credit for December.
It will be interesting to see what happens between sterling and the dollar again today and throughout the rest of the week. Having fallen back a fair bit against the greenback, the question is if sterling can get back to performing as it has been so far this year.
