020 7898 0500Sterling (GBP, pound) continued to remain range bound yesterday as the markets assessed the current global position, as well as the late night parliamentary session to discuss Article 50.
Looking at economic data we saw the net lending figures released, which failed to match the forecast, instead declining somewhat which could be seen as the early signs of consumers spending slowing. In fact the data showed consumer borrowing retreating for the first time in five months.
The second reading of the bill to trigger Article 50 is due to be done today. The pounds (GBP) fortunes will be determined by the number of amendments. In terms of data, the manufacturing Purchasing Managers Index (PMI) is due for release. If we see a momentum check in the growth of this number we could see the market discuss a slowdown further.
