Currency Note Sterling

Sterling looking to Europe

By Ricky Bean March 7th, 2016

A mixed end to the week for sterling, with further positive movement against the US dollar on the back of disappointing US earnings data offset by a second straight day of moving sideways versus the euro. This completed a week of gains for sterling against the US dollar. Sterling also ended the week significantly higher versus the euro.

Following a data-heavy week for sterling, we are not set for any significant UK economic data releases until Wednesday. Manufacturing production figures for February will be the main point of interest, where a rebound in production is forecast to bring an end to three straight months of contraction in manufacturing output.

Following this will be an independent estimate of UK economic growth over the previous quarter, which should show modest growth throughout the UK economy. Aside from this, investors will be largely focused on Europe, where the latest meeting of the European Central Bank (ECB) is likely to result in significant market movement should they adjust their monetary policy as is widely expected.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.