Pound finds no support

28 July, 2011


Sterling has fallen across the board today, as a few neutral or negative UK data releases were accompanied by stronger figures in the Eurozone and USA.

UK: CPI inflation as expected, house prices lower than expected
Eurozone: economic sentiment better than expected
USA: retail sales double expected growth

The net result has been a stronger (more expensive) Euro and US Dollar, with other currencies following suit.

Tomorrow morning we have UK unemployment data at 9.30am, and the Pound remains vulnerable to any further negative news.