The Sterling continued to find a tough path on Monday as it lost more ground to the USD. There was no major economic data from the U.K. yesterday and today the BBA Mortgage Approvals are only coming forth. The expected result today is 35.3k, which would be a slightly better mark than the previous report. However it is unlikely that these numbers will have much of an effect on the market unless there is an overwhelming surprise. Most traders are firmly entrenched in a risk sentiment mode and as long as bourses continue to falter it may prove difficult to find GBP backers.
Written by bforex.com