British Pound Weakness v Dollar, Euro "Should not be underestimated as Brexit reality Sinks in"

A big data release is likely to drive Pound Sterling on Thursday, July 20.

Pound Sterling forecast target lifted by Morgan Stanley who reckon a more Sterling-friendly Brexit outcome has become possible following recent shifts.

 If Nomura are correct, the Pound should receive a positive boost as this is an agressive sign of intent that the Bank of England is fast losing patience with elevated inflation in the UK.

Pound Sterling faces up to the first real economic data release of the week on Wednesday, July 12 in the form of employment and wage data from the ONS, due for release at 09:30 B.S.T.

Pound Sterling is seen consolidating against the US Dollar and Euro with markets finding very little inspiration from the current eco-political backdrop in the UK.

Foreign exchange analysts at NAB have announced they are upgrading their forecasts for Pound Sterling.

The disappointment on today's data releases is a massive one; of the scope that tends to move currency markets.

Over the past year, a key concern for the UK economy and its currency, is that the Brexit vote and subsequent Brexit would scare off foreign investors.