Sterling steady ahead of economic data
The pound finished last week on a high note amid the fallout from a week in which the European Central Bank (ECB) and the Bank of England left interest rates on hold.
This morning the euro was at 1.4620 to sterling, while the dollar was at 1.7751 against the pound.
Comments from ECB president Jean-Claude Trichet that the outlook for the European economy was not risk-free unsettled some analysts, with the euro dipping.
The UK's current economic health should be outlined in more detail this week, with a number of key indicators set for release.
Producer data will be released today while consumer inflation figures will be published later in the week.
Meanwhile, the London Retail Consortium and KPMG will today release their Retail Sales Monitor covering the period in the run-up to Christmas.
Tomorrow sees Boots publish its sales figures for the Christmas period, while on Thursday Merrill Lynch will launch its fourth quarter and full year 2005 results.
On Friday Citigroup will hold its 2005 fourth quarter earnings review conference.