We also we saw oil slightly lower at $128.00 per barrel. Today we have US figures out in the form of June leading indicators which are considered of low importance but should they come in out of line will have an impact.
For Sterling on Wednesday we have the minutes released from the last MPC meeting and are expecting an 8-1 result with the sole vote for interest rate cuts being Danny Blanchflower. Wednesday will also see CBI figures which are set to show a further detrioration in factory orders and optimism. Finally Thursday will see June retail sales figures which economists forecast a sharp decrease in June against the record surge in May, GBP/USD traded with a low of 1.9909 and a high of 2.0020.
The euro saw some slight gains against the US $ and sterling in Friday after some strong German PPI data, however these were unsustainable after positive US data was released. Overall the EUR/USD traded with a low of 1.5807 and a high of 1.5886 before closing the day at 1.5845 in the New York session.