Yesterday saw a quiet day in terms of economic data releases, but still saw sterling losing more ground against both the euro and US dollar. Currency markets are now starting to factor in the impending Bank of England (BoE) interest rate cuts, driving the currency to shed nearly a cent against both major currency pairs.
With the only data release this morning coming in the form of net lending to individuals, it is unlikely that sterling will be able regain much ground throughout the day. This could change, however, depending on the strength of its major peers.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.