Private DCN Private DCN - Sterling

Could positive data today give sterling a much-needed boost?

By Callum Holmes August 16th, 2016

The possibility of disappointing inflation and labour data was a negative push for sterling and its investors on Monday, as the British currency fell to a fresh three year low against the euro and close to the same 31-year low against the US dollar that we saw in the aftermath of the vote to Leave the EU. We expect a host of data releases this week to affect the currency, with the rise or fall in sterling probably being dependent on the results of these.

We expect this morning’s consumer inflation data to show a steady 0.5% growth in the previous month – which could well see an early morning boost for sterling if this is as expected.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.