Currency Note Sterling

Sterling seeing strength across the board

By Smart Currency November 25th, 2013

Sterling finished the week in largely positive fashion, enjoying gains against most of its major partners. These movements came thanks to data showing that factory orders had increased to the highest level in almost 20 years and resulted in sterling ending the week up against the US dollar for the third consecutive week. However, sterling did fall slightly from its recent highs against the euro following the release of strong German data. This week holds a few key events and releases liable to impact the markets. This morning we will have mortgage approvals figures released and on Tuesday we will have the inflation report hearings from the Bank of England (BoE) which will include the central banks economic outlook. The middle of the week then holds the second Gross Domestic Product estimate – a key indicator of overall economic strength, while Thursday brings the financial stability report from the BoE accompanied by a speech by BoE Governor Mark Carney. Again, this will be of interest as it gives an idea as to the risk and stability of the country’s economy and currency, important for the long term outlook. Get in touch with your trader now for the latest sterling rates, with events sparse but significant.