Sterling rebounds slightly, upside set to continue

Hi everyone,


Theresa May failed to receive any concessions from EU leaders last week, helping aid year lows across the board for Sterling. The EU have said firmly there will be no renegotiation, however many analysts believe they are holding their cards close to their chest until the very last minute. The Pound will rally if any concessions are won and UK negotiators continue talks in Brussels all week. 

Whilst Brexit remains in limbo, the Pound will stay under pressure, but it's economic data that could help Sterlings' position this week. Inflation figures will be interesting on Wednesday and so will the BoE's statement after the rate decision on Thursday, which may support the Pound.

Consumer confidence in the EU looks set to fall, which could weigh on the €
after weak activity data recently. The situations in France and Italy are still ongoing and causing uncertainty, but without really hurting the single currency at this point. It's economically that things are not progressing as planned and therefore hindering any progress. 

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