By James Tucker
Sterling remained relatively stable against both the euro and the dollar last week, supported by steady expectations around the Bank of England, and a lack of major UK data surprises.
The pound held its ground against the euro, with EUR/GBP drifting slightly lower as the euro faced limited domestic catalysts and softer sentiment across the eurozone.
The euro traded sideways overall, with EUR/USD showing mild weakness as the US dollar retained underlying strength. With few significant releases from the eurozone, the single currency was largely driven by external factors, particularly energy price movements and broader risk sentiment.
Against the dollar, sterling saw modest fluctuations, with GBP/USD holding within a relatively narrow range. The US dollar remained supported by upcoming data such as jobless claims and consumer sentiment, reinforcing expectations of continued resilience in the US economy
Overall, the week is characterised by a lighter data schedule, with markets instead driven more by central bank outlooks and geopolitical developments than by major economic releases. For your upcoming transfers, speak to one of our consultants and make your money go further.
Of course, events in the Middle East are causing volatility in financial markets, particularly oil and energy. We are yet to see this spill over and affect the Pound, but urge caution that should the UK be dragged further into the wider conflict, sterling could quickly be on the back foot once again.