Wednesday saw a quiet day for Sterling, with the knock-on effects of Tuesday’s negative data releases helping push sterling further south against both the euro and US dollar. We saw further weakness for sterling due to stronger data releases in the US and Eurozone.
Much of the same is expected on Thursday, with no significant data released in the UK. This may give other major currencies the opportunity to gain against sterling’s vulnerability; however, unexpected events can, as always, cause significant upset in currency markets, so risk mitigation is of importance.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.