Analyst: If the UK Purchasing Managers' Index and retail sales data weaken, the pound may come under pressure.

Ebury strategist Matthew Ryan stated in a report that if the upcoming UK purchasing managers' index and retail sales data are weak, the pound may come under pressure. These data will "timely measure the performance of the UK economy under the imminent threat of tax hikes." He mentioned that any signs of weakness in the data could further exacerbate concerns about economic growth slowing down.