Currency Note Sterling

Sterling has a bad start to the week

By Ricky Bean January 14th, 2014

Sterling had a jittery start to the week as it suffered losses yesterday as it was undermined by a  report which showed that the latest economic data emanating from the UK had beaten analysts’ expectations by the lowest amount in a month.  As a result, the British currency fell to the lowest point in a week against the US dollar and two weeks against the euro as investors felt that after its recent runaway performance the UK’s economy may be slowing down. Today sees one of the week’s key releases with UK inflation data released in the form of the Consumer Price Index (CPI). The index is expected to reveal a is a 2.1% rise – the same percentage change as in November and as a leading indicator of inflation, this will be the main event for sterling with other smaller releases acting as support. Call your trader now for the latest sterling rates, as it looks to recover from a shaky start to the week.