020 7898 0500On a quiet day for economic data releases across the board, sterling just about held its own against the US dollar after a recent run of poor form. Recent belief that the US Federal Reserve is set to raise US interest rates four times in 2016 was shaken on Wednesday a two voting members raised concern over potential ‘downside risks’. With little news released elsewhere, and the Bank of England (BoE)’s latest interest rate decision expected later today, sterling was able to recover some ground against the US dollar while also finding some respite versus the euro.
Today is ‘Super Thursday’, as minutes from the latest meeting of the BoE monetary policy committee are released along with their interest rate decision. Following a poor December in terms of economic data, investors will be eagerly waiting to see whether this has had any bearing on monetary policy moving forward.
