Currency Note Sterling

Sterling continues to weaken

By Ricky Bean October 29th, 2013

Sterling started the week weakly with little data of significance released and therefore little to benefit the UK’s currency as it continues to slide away, falling below 1.17 against the euro. An industry report came in favour of the pound, showing October brought a ninth month of increases in UK house prices. On the reverse side of this, weak retail sales indications from the realized sales figure gave a less encouraging view on the economy, and as a result of these two arguments we saw sterling continue to weaken against the euro and US dollar. Today is equally quiet in terms of UK data, as net lending to individuals is expected to be the most influential data released which will be of medium influence over the markets. This level of activity continues for much of the week, with the most significant loaded for the tail end. Get in touch with your trader now to see if sterling continues to weaken.