No strong impulse for GBP from UK data

UK September inflation data is due today, labour market is due data tomorrow. There is some important data due for publication in the UK this week that will provide an indication of the Bank of England's future monetary policy for the market.

So far the BoE's optimistic view of inflation beginning to rise towards year-end has yet to be confirmed. 

"A rise in inflation at this early stage would therefore support the BoE and Sterling. However, as the market is rather cautious about rate hike expectations, not least due to its recent experience with the hesitant Fed, any positive momentum for Sterling is likely to be limited in the end", says Commerzbank.