Currency Note Sterling

Sterling drifts lower against the US dollar

By Smart Currency October 31st, 2013

Sterling had an uneventful day yesterday, with events further afield taking precedence as the UK data flow gave no cause for volatility. While earlier in the week had brought speculation of weaker UK data, pushing sterling down, this had relented somewhat, allowing these losses to level off. On top of this, a weakening dollar saw sterling reverse its losses against it, ahead of the results of the Federal Open Market Committee meeting which would set out their plans on the tapering program. Following the meeting we have seen sterling weaken against the US dollar as the FOMC decided not to start tapering. Today also sees the UK draw a blank with regards to data, and as a result volatility could be low, dependant on the wider events and its repercussions, and any further speculation over tomorrows manufacturing data from the country. Get in touch with your trader now for the latest sterling prices, as we await the end of the week and the most significant UK data release covering manufacturing Purchasing Managers Indices.