020 7898 0500Sterling hit a near-one-month low against the US dollar yesterday. Given the reduced liquidity in the market pre-Christmas, it’s probably fair to say that this move was exaggerated. Today will be another data-light day in the UK but, as we saw yesterday, no major data releases doesn’t necessarily mean no movement in sterling.
Later today the Confederation of British Industry will release its retail sales figures. Whilst this will give the market an idea of the health of the sector, it doesn’t affect currencies in the way the core figure often does.
The key reading for the UK this week is Friday’s final third quarter Gross Domestic Product (GDP) reading – the market consensus is no change.
