Currency Note Sterling

Sterling strengthen across the board

By Smart Currency January 9th, 2014

Sterling strengthened yesterday reaching its highest levels against the euro since January 2013. There was no individual driving factor behind the move. Today we see the result of the two day Bank of England monetary policy meeting. There is unlikely to be any change in the interest rate policy but it is worth mentioning that domestic borrowing rates have begun to move upwards, which may force the Bank of England to confirm that there will be no increases for the foreseeable future and/or define the criteria more clearly for when increases may be considered. Today we also see the release of the UK trade balance – a measure of the difference between imports and exports. Call your trader now for the latest update on the market.