Currency Note Sterling

Sterling continues to trade in a narrow range

By Smart Currency April 7th, 2014

Sterling ended Friday relatively flat against both the euro and US dollar, although non-farm employment figures from the US prompted market movements as traders tried to make sense of this notoriously unpredictable data. With data from the UK last week dominated by purchasing managers’ indices (PMI), the major event of this week promises to be the announcement of the interest rate on Thursday, and the following statement from the Monetary Policy Committee. It is unlikely that recent slightly disappointing PMI data will affect this decision since all sectors still saw growth throughout February. Before this, Tuesday sees the release of manufacturing production figures, whilst the G20 meetings on Friday will likely see a focus on the fallout of the Ukraine crisis, which still has the potential to impact markets.
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