GBP/USD in the spotlight with important UK economic releases due this week

The latest important UK economic data is very much in focus for the markets this week. Of course it might get upstaged by the US CPI data tomorrow, but irrespective of that, we have significant UK data releases due out too. That kicks off with the monthly jobs report tomorrow and then the latest UK CPI and RPI reports on Wednesday, followed by UK Q4 GDP data on Thursday. This is all capped off by retail sales data on Friday. There is a whole raft of other data due out during the week, but those noted are the ones that standout the most. So, the GBP/USD was able to gather some momentum by the close on Friday (1.2628), after hitting a low at the start of the week, at 1.2519. What was also noticeable in that was the rise in UK yields during that period and that has started to see UK money markets reverse some of the downside seen in recent weeks. The UK data this week could decide, if that rebound continues, or not. Overnight, the GBP/USD has held a range covered by 1.2624 to 1.2644. It is just now trading pretty much where it closed on Friday, right now at 1.2630