Currency Note Sterling

Will UK data boost sterling?

By Smart Currency October 21st, 2013

After a short period of relative weakness sterling held its own against the euro last week and gained ground against the US dollar as UK data supported the belief that the UK economy is on the road to recovery. UK data at the start of this week is limited with the Public Sector Net Borrowing data, which is mildly influential, being released tomorrow. Wednesday again proves to be the most important day for sterling, with the votes from the recent asset purchase and bank rate decisions by the Bank of England being released. While the overall results are known, the details of the exact votes are always of interest to investors, as they give a more in depth view on the situation. Thursday’s most significant piece is not data, but instead a speech from Mark Carney, the Governor of the Bank of England. Finally on Friday, sterling keeps up the pace with the preliminary GDP figures for the third quarter of this year and are likely to have an impact on the markets if they differ from the expected. Get in touch with your trader now, in a week of key data releases for sterling.