Currency Note Sterling

Sterling maintains strength in a quiet week

By Ricky Bean February 28th, 2014

Sterling had a positive week overall, with the major talking point being the release of growth data showing that the British economy had grown by 0.7% in the final quarter of last year. This helped sterling rise to a one-week high against the euro of 1.22, not that far off the fifteen-month highs seen earlier this month.

Comments from Bank of England (BoE) policymaker Ian McCafferty, who claimed that an interest rate hike could happen in 2015, helped sterling make steady gains against its major trade partners including a rise to 1.6745 against the US dollar, not that far off the four-year-highs seen earlier this month.

Today sees another quiet day from the UK, with data released elsewhere likely to be the major driving force in the markets.

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