Currency Note Sterling

Sterling euro negative, dollar positive

By Smart Currency October 23rd, 2013

Sterling had a mixed day yesterday as data released in the US caused a significant reaction in the global markets. Sterling jumped against the US dollar but dropped against the euro as weak labour data in the US sent shockwaves through the market. In the UK, data released showed better than expected public sector net borrowing figures which gave a little strength to the pound in the morning as it showed that the nation’s budget deficit had narrowed marginally. Today, all eyes will be on the minutes from the latest Bank of England meeting where we will hear the voting patterns from the recent asset purchase facility, and official bank rate votes from the Monetary Policy Committee. At present, the general consensus is that all 9 members voted to keep interest rates and the current levels of quantitative easing on hold, any variation from this could cause some volatility for sterling pairings. With no other data, reaction to the minutes will be the main talking point for the rest of sterling’s day. Get in touch with your trader now for the latest sterling rates, as we await these outcomes.