020 7898 0500Sterling markets fell for a second straight day across the board as a possible cut in UK interest rates next week extended sterling’s woes. With Bank of England (BoE) Governor Mark Carney conceding on Tuesday that “some monetary policy easing will likely be required over the summer”, investors are understandably nervous about the prospect of backing sterling. This saw sterling fall to a fresh 31 year low against the US dollar – and has helped the British currency fall a stunning 29% against the Japanese yen since November.
Manufacturing production figures will be released from the UK today which are forecast to show a further contraction in manufacturing output. However, with the Brexit fallout still dominating headlines, the actual figure released may not matter too much when it comes to sterling’s movements.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
