Currency Note Sterling

Sterling has a positive week

By Smart Currency January 10th, 2014

Sterling has had somewhat of a roller coaster week, losing out early on thanks to disappointing purchasing managers index data for the services sector. Sterling’s fortunes changed on Wednesday, with sterling gaining ground across the board despite their being no clear cause. On Thursday, sterling reached its highest point against the euro since January 2013 as the Bank of England held its current monetary policy steady. With the asset purchasing and interest rates staying at the same level, the UK currency made further upward movements, supported by the Trade balance meeting expectations. Today, the key UK release is the manufacturing production figure, while this could be backed up later on by an independent GDP estimate to help sterling maintain its strength. Call your trader now for the latest sterling rates, as it continues to reach new highs.