Currency Note Sterling

Quiet start to the week for sterling

By Ricky Bean December 17th, 2013

Sterling had a fairly volatile day yesterday, experiencing movements in both directions against both the US dollar and the euro, which ultimately cancelled each other out. With the only UK data being the house price index from Smart partner Rightmove, sterling had little to go on. This release did show that house prices had declined for a second month, but sterling still managed to make early gains before retracting to remain within a narrow range. Today’s data releases are likely to have greater influence on sterling markets, in particular the Consumer Price Index, which many believe will show the inflation rate remaining unchanged from last month. Later on we will also hear from the Governor of the Bank of England Mark Carney. Investors will be looking for clues as to when the central bank could alter its current monetary policy. Call your trader now for the latest sterling rates, following a calm start of the week.