Pound edging higher versus euro

The euro is trading at around $1.1775 against the dollar this morning, in line with last week’s closing levels. Sterling remains above $1.35 against the US currency and continues to edge higher against the euro, trading just above £0.87. Government bond yields were little changed yesterday, dipping by just a couple of basis points across the main markets. US equities started the week on a soft note, shedding around 0.5%, while European stocks closed broadly flat on the day. Economic data due today includes the ADP weekly employment report (for w/e Dec 13th) in the US, while the Fed publishes the minutes of this month’s monetary policy meeting (at which it cut rates by 25bps).