020 7898 0500Sterling found, early on, a solid footing on Wednesday, holding its own across the board as the UK jobs report showed a better-than-expected release. Although fears that the UK could leave the EU continue to weigh on markets, sterling found support as the latest polls showed parity between the campaigns to leave and remain in the EU.
Sterling was given a further boost later in the day as average earnings came out better than expected, and unemployment was shown to have fallen to a fresh 10-year low. Although concern over the effect a Brexit vote could have on the UK’s economic performance will continue to dominate market sentiment, this positive data allowed some respite for sterling. However, late in the day sterling was undermined by the Federal Reserves decision on interest rates where they were kept on hold citing uncertainty over the outcome of the UK’s referendum vote.
Following last night’s interest rate decision from the Federal Reserve, today sees confirmation of the Bank of England (BoE)’s latest decision. With retail sales data also released this morning, there is plenty of economic data to interest investors.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
