Currency Note Sterling

Sterling data supports sterling short term

By Smart Currency October 18th, 2013

Sterling was one of the better performers of this week thanks to positive results in key data areas. In the months of June through August, the number of unemployed people in the UK fell by 18,000 with the overall unemployment rate steady at 7.7%. Furthermore, figures released showed that the number of people in the UK claiming unemployment related benefits had fallen in the last month by the greatest amount in 16 years. Yesterday retail sales figures came in above market estimates showing growth of 0.6% when only 0.5% had been anticipated helping sterling to strengthen against all of its major counterparts. Today ends a turbulent week for sterling in much a more relaxed fashion with no data releases from the country to influence the rates. Get in touch with your trader now to see if sterling is ending the week on a largely positive note.