The Pound has sstarted the day off on the wrong foot against all major currencies so far this morning, as confidence in Sterling continues to decline.

GDP data out on Friday was indeed revised to have seen the economy only contract by 0.5% instead of the previous figure of -0.7% however I feel that many thought it actually might be a little better than we had seen, hence the drop in value for the Pound.

There is not too much out this week in the way of economic data for the U.K so unless any surprises pop up on the market (which there are many in the current climate) then I feel this week may be quiet for Sterling.

This afternoon we have Consumer Confidence for the States and thsi is expected to be fairly stable, any difference may lead to swings for the Dollar in afternoon trading.