BRC retail sales release came in at +4.7% for July, despite this growth has in actual fact started to slow as the lifting of restrictions did not bring the anticipated in-store boost. The Pound held below key resistance at $1.3900 having also failed to break the €1.1800 zone against the generally softer Euro.

Improving employment numbers combined with the hawkish rhetoric from the Federal Reserve last week sees the US Dollar hold onto gains across a broad range of currencies. Should the US reach employment targets set by the central bank, the Fed could well commence the tapering of bond purchases earlier than expected. The Senate are expected to vote on President Biden’s infrastructure bill at 3pm today.

German and Eurozone ZEW economic surveys will be in focus today (10am), the Euro trading close to 5-month lows against the Dollar.