A difficult period for sterling continued, with the currency fading against a strong dollar at the start of the new week.

This morning the dollar stood at 1.7076 to the pound, while the euro was at 1.4594 against sterling.

The fall of the pound is being seen as an inhibitor to retail success, particularly as the currency trajectory has made it much costlier for retailers to buy goods in Asia.

Royal Bank of Scotland analyst Ross Walker told the Mail on Sunday the pound would begin to undermine performance on the high street.

"Below $1.65, some retailers importing goods are going to lose money," he commented.

This week sees a host of firms reporting company results, with the start of the week seeing pharmaceutical and medical-based results from Genemedix, York Pharma and Cambridge Antibody Technology.

On Tuesday Compass and Richmond Foods will report, while Arla Foods will issue results on Wednesday.

Barclays will also be issuing a trading statement, while United Utilities will publish interim results later in the week.