Sterling started the week strongly, rising close to a four month high versus the euro thanks to strong manufacturing, construction and services data which surpassed expectations. The multitude of positive data shows the growing health of the economy, such to the extent that the Organisation for Economic Co-operation and Development (OECD) raised the UK’s growth forecast from 0.8 to 1.5%. The more confident people become about the economy, the more speculation there will be as to the timeline for when the Bank of England (BoE) may hike interest rates. Yesterday saw sterling experience slightly more mixed fortunes, weakening over the day versus the US dollar, whilst managing to touch the highest point in four months against the euro following the Bank of England’s decision to keep quantitative easing and interest rates at their current levels. The major release out of the UK today is the manufacturing production figures, although employment related data released in the US may have a greater bearing on sterling’s relative strength . Get in touch with your trader now for a live price on sterling as we head towards the weekend.