It's a quiet day today for tier 1 data but looking ahead this week we've got NIESR GDP data for the UK tomorrow afternoon - the headline figures expected to show growth of 0.6% in the fourth quarter of 2015. Then on Wednesday afternoon Bank of England, Governor Mark Carney will be speaking ahead of Thursday's Bank of England interest rate decision. It's unlikely we'll see any change from the central bank as interest rates likely to remain on hold at 0.5% but any change in the vote split will trigger a reaction in the Pound. Market expectations are that the Bank of England could hike interest rates sometime between November this year and next March. Particular focus remains on wage inflation which has been lacklustre recently and this Thursday’s policy statement will be closely watched for further clues as to when the first rate hike is likely to be.
Latest FX news by Alastair Sweetman