There is very little on the economic calendar this week, however Governor Carney speaks on Thursday; his comments will of course be watched for hints on the BoE monetary policy outlook but until then it will be EUR and USD moving around a relatively static GBP.
With USD being supported by continued global political risk and conversation around the US rate tightening schedule – we could see USD take advantage of GBP in the next couple of days.
The ECB President Mario Draghi, speaking on Monday in the European Parliament, noted that the economy of the Eurozone is losing momentum, even though data for July raised some optimism among economists. However, Mr. Draghi assured investors that the ECB will continue implementing new stimulus measures, including the second offering under the TLTRO. Whilst the post scottish referendum pound failed to significantly capitalise on this, we could see EUR slide over the rest of this week.
Elsewhere both the Australian Dollar and New Zealand Dollar continue to lose value representing rare a buying opportunity against GBP.