Sterling still cagey this morning, Mortgage approvals data out at 09:30am GBP – EUR pairing continues weakness

Sterling had a terrible day on a trade weighted basis yesterday as mentioned in previous posts, following comments by Bank of England Monetary Policy member Adam Posen on further QE.

This morning will be once again key as mortgage approvals and net lending figures are released for the U.K

Last time around these came out much worse than expected and led to Sterling weakness, should we see this again then the weekly trend of Sterling dropping may well continue (apart from against the USD) of which we have manged to stay in a firm position against sat around the 1.58 mark.

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