Critical week ahead for GBP

A critical week for sterling started in upbeat fashion, lifting the pound to a ten-week peak on a trade-weighted basis. 

In a good sign for fourth quarter growth, Britain's factory sector grew at the fastest rate in 16 months in October with the PMI rising 4 points to 55.5. 

"More catalysts loom in U.K. services growth on Wednesday and so-called 'Super Thursday' when the Bank of England renders a policy decision and issues a quarterly inflation report and the minutes from this month's meeting", says Western Union.