Watching GBP/USD this week and next - Nomura

Analysts at Nomura explained that the pound is not only driven by the data.

Key Quotes:

"Politics need to be considered for next week, when the UK is expected to release its position papers on the future of the Irish border, the customs union, along with papers addressing the future relationship between the UK and the EU."

"It is hard to see any meaningful deviation from what has not already been said (officially or unofficially), but the market may move then on the EU’s response. When looking at how the first Brexit offer on the issue of EU nationals’ rights were received in June, we would expect more of the “there is a long, long way to go for negotiations” rhetoric rather than any meaningful positive surprise at this stage."