It’s a particularly busy day ahead on the economic calendar. Key stats include January GDP and industrial and manufacturing production figures. January’s trade data that are also due out will likely have a muted impact, however.
Outside of the numbers, the government will also announce its budget, with the markets expecting a loosening of the purse strings.
Today’s stats and the budget are key for the Pound as the BoE remains poised to deliver support.
At the time of writing, the Pound was up by 0.06% to $1.2919, with the Dollar weakness providing early support.