Currency Note Sterling

Sterling gains against the euro

By Smart Currency November 1st, 2013

Yesterday sterling jumped by over one cent against the euro pushing back to a ten day high following disappointing economic news from the Eurozone. Against the US dollar sterling has been drifting lower during the course of the week. Domestic economic news has been thin on the ground but yesterday saw the release of house price index figures which comfortably exceeded market estimates – showing 1% growth – which gave some strength to the pound. Today will see the Manufacturing Purchasing Managers Index (PMI) figures released which could provide the greatest cause for movement at the end of this week as investors hope for solid growth from the sector. Get in touch with your trader now, to see if sterling can finish with a flourish.