Currency Note Sterling

Sterling sensitive to fluctuations

By Ricky Bean April 20th, 2016

Sterling pushed to further three-week highs against both the euro and US dollar on Tuesday as a reduction in the perceived risk of a potential Brexit from the EU saw sterling make gains against its significant trading partners.

There has been little data of note released from the UK over the past two days, and sterling remains buoyant on the back of better-than-expected inflation data released last week. Sterling found an additional boost versus the US dollar on Tuesday as the US recorded the lowest increase in monthly building permits in a year. Comments from Bank of England (BoE) Governor Carney saw sterling fall away from the highs of the day as he assured markets that the BoE could cut interest rates further if required.
Today sees the release of the week’s most influential UK data, in the form of labour figures. Average earnings are forecast to show a 2.1% increase over the past month, whilst unemployment is set to remain at 5.1%.

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