More good news for sterling, as the currency strengthened against both the euro and US dollar for the second day in a row. Although there has been no further light cast on the economic future of the UK, some stability has returned to the country’s financial markets.
A second day of EU talks has seen European leaders reiterate that the free movement of people is a non-negotiable term of access to the free market. With immigration a hot topic during the run-up to the referendum, it remains to be seen what effect this may have on future negotiations.
Today we expect the release of the latest Current Account Balance data from the UK. Investors will however be more eagerly awaiting the words of Bank of England (BoE) Governor Carney, who is due to speak in London in one of his first addresses post-Brexit vote.
If you are looking to buy or sell sterling in these uncertain times, contact your trader today to get the latest rates, market news and plan a currency strategy.