Sterling has held onto the gains seen against the Euro, having yet to trade above EUR 1.1700 as new Covid virus cases continue to ‘flatten’. Against the Dollar, traders are likely to wait for guidance given at the Federal Reserve meeting on Wednesday having held in a tight trading range during the Asian session today. It is a relatively quiet week on the data front for the UK.

With the Federal Reserve meeting on Wednesday, it has been a quiet start to the week on limited economic data today. The Dollar is broadly unchanged from Friday’s close, new home sales numbers for June are released at 3pm.

With the Euro hovering just above 5-month lows, there has so far been strong support shown ahead of $1.1750. A break here may attract another bout of speculative selling interest for the common currency. German business expectations & business climate index for July are released at 9.00am.