With no major data releases on yesterday, and with holiday season tighter range trading, markets are still speculating on fact is Sterling overpriced at the moment and when will BoE hike interest rates. Several Bank policymakers, including Governor Mark Carney and even hawkish rate-setter Martin Weale have played down the prospect of a rate rise in the next few months as a renewed fall in oil prices and weak wage growth keep inflation well below the Bank's 2pc target.
As for tomorrow, we can expect less volatile session, as holiday season continue and there are no data releases from the UK. In the US session CB Consumer Confidence figures are scheduled for release. Analysts are anticipating increase to 93.9.
Figures to watch:
CB Consumer Confidence (Tuesday 16:00)
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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