Pound Steady as Traders Await Key Growth Data Release

The British pound has shown minimal movement against both the dollar and euro on Monday as traders await key growth data due later this week.

The growth data, predicted to reveal strong economic resilience partly due to increased retail spending during June, is expected to be released on Thursday.

Currently, sterling has increased by less than 0.1% against the dollar to $1.3502, narrowly missing a recent high.

Against the euro, it remained stagnant at 85.62 pence.

Analysts, such as ING FX strategist Francesco Pesole, suggest a cautious approach regarding anticipated rate hikes, warning of potential impacts on sterling's stability.