- The US dollar lost some ground on sterling yesterday with GBP/USD gaining 0.4% on the day, closing at 1.3438 after opening at 1.3384.
- EUR/USD also posted a positive day closing 0.35% higher than its opening rate of 1.1744.
- GBP/EUR was more subdued closing down 6 points at 1.1404.
- UK Prime Minister Theresa May spoke at the Bank of England’s conference celebrating 20 years of independence in London yesterday. May said that despite leaving the EU, the UK is committed to the security of Europe.
- In the afternoon we saw better than expected data from the US will final GDP q/q coming in at 3.1% vs 3.0%. We also saw US unemployment claims beat expectation slightly after coming in at 272K vs 269K.
- Sterling gained slightly on the Aussie dollar. After opening at 1.7049, GBP/AUD traded as high as 1.7180 before closing 1.7097.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading at 1.7090, 1.8580 and 150.77, respectively.
- This morning we saw German retails sales m/m miss estimates with a figure of -0.4% after 0.5% was expected.
- At 9.30am, we expected to see UK current account data along with final GDP q/q and net lending to individuals m/m.
- This afternoon at 1.30pm we will see GDP m/m released from Canada and personal spending m/m from the US.
- Later this afternoon the Bank of England governor Carney will be closing the BOEs 20 year independence celebration in London.