020 7898 0500Sterling performed well against the US dollar yesterday as data releases showed further encouraging signs to the economic recovery. Yesterday’s data showed that the house price index continues to increase and that there is increasing activity for manufacturing, as well as a narrowing of the trade deficit. As a result of the above, sterling climbed for a third day to fresh two and a half year highs against the US dollar, before coming off these levels later on. Conversely, sterling ended the day down against the euro, thanks to later strength from the Eurozone. Yesterday, however, brought the end to the significant scheduled data for the week, with releases thin on the ground. As a result, sterling will likely be vulnerable to movements driven by events elsewhere. Call your trader now for the latest sterling rates, as the optimism further mounts.
