020 7898 0500Sterling failed to hold onto recent two-week highs against the US dollar, although it did manage to push to a fresh two-week high against the euro, despite a lack of supporting UK economic data.
The heightened uncertainty in sterling markets is of course largely driven by June’s high stakes vote over Britain’s membership of the European Union (EU). Despite this, sterling was able to continue recovering from the recent two-year lows against the euro, as the single currency moved lower across the board. Even though retail sales data from the US was disappointing, the US dollar was able to recoup the losses it had suffered against the pound earlier in the week.
Today we will hear from the Bank of England (BoE)’s monetary policy committee about their latest interest rate decision, along with thoughts on future monetary policy. With the spectre of the EU referendum hanging over sterling, investors will be looking closely for the central bank’s views on this.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
