Currency Note Sterling

Sterling focus on EU Referendum in quiet week for data

By Smart Currency June 6th, 2016

The worst US non-farms payrolls data since 2011 released on Friday saw sterling initially gain ground against the US dollar but lose rapidly against the euro and other currencies. However these gains against the US dollar soon reversed into losses which means sterling has started this week much weaker than it started last week.

A quiet week lies ahead for UK economic data releases, with housing inflation data due on Tuesday. The most influential data will be reserved until Wednesday, however ,when we see the release of manufacturing production figures for the previous month. Following an unexpected growth in the industry throughout May, investors will be eagerly awaiting further positive news from the UK manufacturing sector. Aside from this, any further information on the likely outcome of the June 23rd referendum on the UK’s EU membership will continue to greatly influence sterling markets.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.