The UK employment report was mixed. Unemployment rated went down to 5.3% in September, and 177,000 jobs were added but with softer earnings as wage pressures moderated more than expected.
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An exchange rate forecast note for 2016 from ING says strength will in the British pound will likely be capped in 2016 owing to political uncertainty surround the EU referendum.
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Last week was a tough one for the sterling with the currency falling sharply across the board, wiping away most of the gains it made earlier in the week.
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We see balanced risks around the unemployment rate, and it should hold stable in September with both TD and consensus expecting a reading of 5.4%.
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Bank of America Merrill Lynch Global Research have let their position on a British exit from the European Union be known.
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The Bank of England has deliberately attacked the value of the British pound and manufactured the sharp decline witnessed on the 5th of November it has been alleged.
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Today is Super Thursday; the Bank of England (BoE) is set to release its latest interest rate decision, as well as the inflation report and minutes from its meeting.
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