020 7898 0500Sterling pushed higher on Monday as Bank of England (BoE) voting member Weale suggested that the BoE could still hold fire on an interest rate cut in August. Citing likely wage and productivity growth as arguments for keeping rates on hold, Weale’s comments saw sterling recoup some of the losses experienced at the end of last week. More economic data is set to be released this week, and this will provide fresh guidance to the BoE on whether an interest rate cut is advisable. June inflation figures are due out later this morning, and are forecast to show an increase of 0.4% throughout the month.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
