020 7898 0500Sterling endured a tough time yesterday, making losses against all of its 16 most traded partners. This movement came despite a lack of influential data, as market action was dictated by speculation ahead of the minutes from the latest Bank of England (BoE) meeting on Wednesday. Sterling was not helped by data released from Smart Currency partner Rightmove, which showed that average price for houses coming onto the market actually fell In November. There is little in the way of data released in the UK today, as such, markets are likely to largely influenced by speculation in anticipations of tomorrows BoE meeting minutes. As ever, whilst we already know the BoE voted not to change the current levels of quantitative easing or the base interest rate, however the minutes will provide greater insight into the finer details of the members’ reasoning behind this decision and this is of particular interest to the markets, as they look for clues as to when monetary policy may change. Get in touch with your trader now for the latest sterling rates.
