020 7898 0500Sterling has had a good week. It received a boost yesterday as the Bank of England (BoE) voted 8-1 in favour of keeping the UK interest rate on hold. Expectations had been for a cut. On Tuesday, Prime Ministerial hopeful Andrea Leadsom pulled out of the race to become the next Tory leader. This left the way clear for Theresa May to assume office unopposed. Sterling has soared to two-week highs as currency markets welcome the certainty.
A quiet day from the UK lies ahead in terms of data, with interest fixed on the US where inflation and retail sales data are set to be released. However, any political news concerning the UK’s upcoming ‘Brexit’ could move sterling markets as very high levels of uncertainty currently surround what happens next.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
