Following a strong start to the week, sterling markets were relatively quiet yesterday as there was little economic data released. Sterling remained strongly placed against the US dollar, refusing to fall away from recent four-and-a-half year highs as nothing in US Federal Reserve Chair Janet Yellen’s testimony served to greatly affect the markets. Performance against the euro was more volatile throughout the day, although sterling finished the day in a similar position to where it started.
Today sees the release of the latest interest rate from the Monetary Policy Committee of the Bank of England, which is expected to remain at 0.5% despite the recent strength in sterling and apparent strength in the UK economy.
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