020 7898 0500In the week leading up to the referendum, sterling hit its highest level of the year against the US dollar. One week later, sterling remains close to the lowest level since 1985 against the US dollar whilst also hitting a fresh two-year low against the euro. Markets were relatively quiet during the middle part of the week, with sterling seeing two successive days of strength.
Thursday, however, saw sterling lose ground again as Bank of England (BoE) governor Mark Carney warned markets that the central bank may need to ease markets in the summer with either a fresh round of quantitative easing and/or a decision to cut interest rates.
Today sees the release of Purchasing Managers’ Index (PMI) data from the manufacturing industry which will show the level of growth in the sector throughout May.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
