Western Union CMA Research:
- Sterling opens this morning little changed against the US dollar, but has moved back towards 1-month highs against the euro.
- Public sector net borrowing figures seen last Friday, were not as bad as forecast and the CBI distributive trades survey moved to a 27-year high.
- The consumer demand survey comes on the back of very strong retail sales data and supports the outlook for a stronger economic recovery in the UK.
- European importers will have little local data to look forward to this week. The focus currently will remain on Greece, which could help sterling maintain higher levels against the euro.
The material has been provided by InstaForex Company – www.instaforex.com