Monday was a quiet start to the week for sterling. Net Lending to Individuals, showed an increase in the amount that was loaned by banks to individuals. This gave sterling a boost as it showed that both banks and individuals are more confident in lending or borrowing money respectively, which, in turn, will help the public to boost its spending. Mark Carney also commented on this in his latest speech, advising that banks are standing stronger.
The Consumer Confidence Index is the first release expected today, predicted to show a stable figure. Current Account figures will also be released, which works as the UK’s Trade Balance; here we can expect a slight improvement resulting from more exports from the UK.
Sterling is still standing strong against the euro. Contact your trader today to find out the current rates and the latest news, particularly on how upcoming political and economic events, such as the UK Election, will affect the currency.