This week sees the UK labour market coming into focus with a series of reports.

Sterling started the week at $1.88790, €1.46500 and 218.32000 yen - gaining some ground but still down on expectations of a further interest rate rise being off the cards in the near future.

The strength of the labour market could also affect sterling with the Chartered Institute of Personnel and Development (CIPD) and KPMG releasing their joint quarterly Labour Market Outlook today (August 21st)

The Bank of Scotland is issuing its own report into the Scottish labour market over July.

The CIPD report is expected to point towards a growing economy with four out of ten employers aiming to recruit. However, unemployment levels are also increasing.

John Philpott, CIPD chief economist, said last week: "With the economy continuing to grow at a healthy rate, recruitment activity is picking up in the private sector - adding to recent increases in the number of people in work.

"However, owing to efforts by the government to encourage incapacity benefit claimants back into work and ongoing recruitment of migrant labour, this has not yet brought about lower unemployment."

He added that prospects remained healthy in the private sector, in contrast to the public sector where lower salary increases were expected with redundancies running at a higher level.

Thursday will also see the Office for National Statistics releasing statistics on economic trends for August.