Sterling performs well on the final day of 2013

Sterling had a strong day on Tuesday to close out the year, largely in anticipation of what data we could see released in the UK at the start of 2014. Thanks to this optimism, sterling touched reached a 2.5 year high against the US dollar, and reached a 3 week high against the euro. With house price and mortgage figures due for release over the next two days, economists felt this data would show an increase, helping buoy the currency as 2013 drew to a close. Before then, we have the manufacturing Purchasing Managers Index (PMI) from the UK which is the first major scheduled release of the new year, and is the only piece of economic data from the UK for investors to digest after the new year celebrations. Get in touch with your trader now, as sterling looks to continue in 2014 in the same vein as it closed out the end of year.