020 7898 0500Sterling had a quiet day in itself yesterday, as releases surrounding the currency were few and far between. While first thing brought data from Smart partner Rightmove.co.uk, who raised their UK house price growth forecast for the year, the rest of the day was completely void of further economic indicators. Nonetheless, sterling still managed to reach an 8 month high against the US dollar, on the back of dollar weakness following the withdrawal of Larry Summers from the race to become the next Federal Reserve chairman, although it conceded some of these gains later on. Today we await the consumer price index (CPI) from the UK, as a further indicator of the economy’s strength following positive data of late, whilst tomorrow will inevitably be more important, with the minutes released from the last Monetary Policy Committee meeting of the Bank of England. Get in touch now with your trader for an up to the minute price on the pound, as we enter an important few days for the currency.
