020 7898 0500A mixed day for the sterling, which strengthened against the US dollar but weakened slightly against the euro. However the pound did stretch itself over half a cent, from a high of €1.129 to a low of €1.125 as news came in that the FTSE had hit a new record. There was no other significant data and all we have to look forward to tomorrow is the BBA Mortgage Approvals for November (issued today, not as stated yesterday). As we erroneously mentioned yesterday, this offers only a partial picture of UK housing demand but will be looked on with interest as we look for clues as to the likely performance of the British economy in this second year of our post-referendum future.
