Sterling treading familiar range despite broader market volatility - Scotiabank

Analysts at Scotiabank noted that Sterling is treading a very familiar range despite broader market volatility and some soft-looking domestic data.

Key Quotes:

"The BRC survey released overnight revealed weaker shop prices in the survey (-1.0% in the Mar year) while this morning’s construction PMI data was disappointingly soft at 47, which was the lowest level for this important part of the economy since mid2016).

Data were perhaps affected by seasonal factors (Spring sales weighing on retail prices) and the “Beast from the East” snowstorm that affected the UK last month, however."