020 7898 0500Wednesday continued the same pattern we had already seen this week, with sterling moving steadily lower against the euro as further Eurozone finance ministers spoke about their optimism that a deal would be reached with Greece over their debt. This positivity from European Union (EU) sources meant that a better than-expected UK Service Sector data was largely ignored and sterling fell to the lowest level since mid-February against the euro. Against the US dollar it was a different story. A disappointing ADP non-farm payrolls figures from the US saw sterling strengthen against the US dollar.
With the British public going to the polls today, there should be no major economic data released – but we do expect to see some significant movement throughout the day, as sentiment shifts over who is likely to win the election.
