Currency Note Sterling

Positive data supports sterling

By Smart Currency September 26th, 2013

Sterling performed well yesterday, enjoying gains against all of its 16 most traded partners on the back of impressive retail sales data. The realised sales figures surprised many – especially considering last week’s disappointing data – and came out much better than anticipated prompting sterling to strengthen and started to head back towards its recent 8 month highs against the US dollar. Today could also be important for sterling as the final second quarter GDP figures will be released – current estimates suggest we should see a final growth figure of 0.7% although any significant variation from this figure would spark a big reaction in the markets. At the same time we will see the release of the current account figures, showing the difference between imports and exports. Call your trader now for the latest on sterling, on what could prove the most significant day of the week.