020 7898 0500A tough end to the week for sterling saw the currency fall across the board although it did regain some ground against the euro after the close in trading in Europe. This was mainly due to the release of interim purchasing managers’ index (PMI) data from the services industry, which showed that in the wake of the EU referendum, the UK’s largest sector had shown its first contraction since January 2013.
A quiet week in terms of economic data lies ahead for the UK, with preliminary economic growth data on Wednesday the only major data release that is expected. Although growth of 0.5% had been forecast, this could well disappoint markets should the recent EU referendum be shown to have had a negative effect on UK growth.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
