020 7898 0500Sterling slipped somewhat on Friday, losing ground against its major trading partners following a stellar performance the day before. After such a strong rally it is only natural that there should be some market correction, but the UK currency remains well above recent multi-year lows.
A relatively quiet week lies ahead for sterling, although we will have the release of a number of UK significant economic figures. Tuesday sees the release of June UK inflation figures, with recent discouraging growth levels further threatened by the UK’s decision to leave the EU.
Labour data on Wednesday is likely to be the major release, with average earnings set to show the highest level of growth in 2016, whilst unemployment should remain at a multi-year low of 5.0%. Finally, Friday’s retail sales figures are notoriously volatile, and are forecast to show a sharp decline in consumer spending throughout June. This raft of data could be compounded by further Brexit-related developments.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
