Friday was a mixed day for sterling, seeing it move sideways against the euro, but lose it against a resurgent US dollar following the release of better-than-expected non-farm payrolls data for America.
With sterling markets still reeling from the double blow of the UK’s decision to leave the EU coupled with last week’s Bank of England (BoE)’s decision to cut interest rates, the week ahead is thankfully quiet for economic data releases. Manufacturing production kicks things off on Tuesday, with no further significant economic data released from the UK for the rest of the week. Investor attention will however turn to the US, where retail sales data will be eagerly received later this week.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.