The British Pound is fairly flat in early trade Monday with little or no drivers during the session to push Sterling. Cable trades around 1.3890, just off a fresh two-week high, aided by last Friday’s US dollar sell-off. Today’s range is very small and will likely remain so ahead of the US Treasury 10-year auction later in the session, where investors will try and drive UST yields higher in order to buy cheaper bonds. Tomorrow’s 30-year bond auction will also be closely watched, coming after the latest look at US inflation.
The UK calendar is fairly light with inflation and employment the headline numbers the headline makers this week. In addition to these high-level events, on Tuesday the latest BoE FPC minutes and Financial Stability Report are both released and worth noting.
