Currency Note Sterling

Sterling rebounds ahead of BoE release

By Smart Currency May 11th, 2016

Sterling found its footing on Tuesday, pushing away from recent weekly lows against both the euro and US dollar as the latest monthly data showed a smaller-than-expected deficit in the trade balance. After a tough week that has seen it lose ground across the board, sterling rebounded ahead of Thursday’s release from the Bank of England (BoE), which will reveal the latest interest rate decision, alongside quarterly growth and inflation forecasts.
Today, we have the release of manufacturing production data from the previous month, which should show a slight increase of 0.4%.

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