Currency Note Sterling

Sterling enjoys a boost

By Ricky Bean October 30th, 2015

Sterling’s held onto the significant gains it made late on Wednesday against the euro. It also benefitted on Thursday from better-than-expected data from the UK, with net lending released at £4.9 billion compared to the market projection of £4.4 billion – which contributed to a positive movement for sterling against its rivals, with the euro currency exchange rate hitting a two-month high and sterling regaining most, if not all, of the loses it had made against the US dollar on the previous day.

Mortgage approvals data disappointed, however, registering at levels lower than expected. Sterling broadly brushed off the impact of this data, but suffered from pressure caused by the UK growth report for the third quarter.

It’s a quiet day for the UK today in terms of economic data from home ground. Investors will be looking to events elsewhere for clues of factors that could move sterling markets, though.