Currency Note Sterling

Sterling has a positive start to the week

By Ricky Bean December 10th, 2013

Sterling had a quietly positive day yesterday, thanks largely to optimism ahead of upcoming data. Words from the Governor of the Bank of England kicked off the week, while investors looked to today’s manufacturing data to give further insight into the state of the UK economic recovery in an otherwise quiet week. Optimism that today’s figure will provide further backing to the economy’s strength prompted a second consecutive daily gain against the US dollar, while making a U-turn on the previous four days against the euro to also end in the positive for the day. Today does also offer a few other nuggets of data, with the trade balance for October and an independent growth estimate for November, which could club together to add to sterling movements. Call your trader now for the latest sterling rates, on the only day of key data for the UK this week.