We saw a flurry of poor data yesterday morning from the U.K including poor retail sales, poor borrowing figures and the possibility of further QE (Quantitative Easing) from the Bank of England.

3 members of the MPC voted in favour of further QE which assisted in the drop for the Pound yesterday morning.

QE is generally seen as negative for the currency concerned as it is essentially pumping more money info the economy and even the mere mention of it over the past few years has led to Sterling weakness.

We have key GDP (Gross Domestic Product figures due out at 09:30am this morning so all eyes will now be on this next release.