In a quiet end to last week, the pound regained value against the single currency but stayed close to the seven week low of 95 pence per euro hit on Wednesday. Sterling came under pressure last week after a raft of soft economic data underlined the UK’s current economic plight, including rising unemployment and a CBI survey revealing that manufacturing orders fell at their fastest rate in 17 years. Investors will take a keen note of data releases in the UK this week, with inflation figures for February being released on Tuesday, followed by key retail sales numbers on Thursday and the final estimate of fourth quarter gross domestic product on Friday, alongside the current account balance.
Within the eurozone today construction output figures and trade balance figures are released this morning, with there being no major economic announcements due in the UK today.
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