020 7898 0500Another largely positive day for sterling saw the currency hit fresh one-month highs against both the euro and US dollar as it continued its recovery from the seven-year low suffered against the US dollar in February. Fears that the UK could vote to leave the EU in June are easing, and have helped sterling push to a second straight day of gains against the euro.
With no economic data released from the UK, Brexit fears have been largely driving markets, and with President Obama firmly backing the campaign to remain within the EU, sterling made strong gains across the board throughout the morning. Sterling did give back some of the earlier gains seen against the US dollar throughout the afternoon, with market investors looking to set their positions ahead of Wednesday’s interest rate decision from the US Federal Reserve.
No significant data releases to look out for today from the UK, with Bank of England voting member Cunliffe’s speech in the evening providing the main point of interest.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
