Sterling made up some ground on Friday as it moved away from recent multi-year lows against both the euro and US dollar. This was despite strong US labour data showing a better-than-expected rise in employment.
An interesting week lies ahead for sterling with a slew of information set to be released by the Bank of England (BoE). Tuesday will see the BoE present its latest inflation report before the Parliament’s treasury committee. However, most attention will be focused on Thursday’s interest rate decision thanks to recent speculation suggesting the BoE could cut interest rates over the summer. Friday will see BOE Governor Mark Carney speak again, with markets keen for any further clarity on decisions and statements made by the central bank earlier in the week.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.