020 7898 0500Wednesday saw sterling surrender some of the gains made earlier in the week, falling away from the recent highs we have seen against both the euro and US dollar.
With momentum for the ‘remain’ campaign continuing to grow, sterling had enjoyed a largely positive week which has seen it make gains across the board -but belief can turn quickly, and investors seem to be unwilling to lend too much value to sterling until the outcome of the referendum is certain. This ensured the British currency fell away from Tuesday’s three-month high against the US dollar, despite UK economic growth of 0.4% over the previous quarter and 2.1% over the previous year being in line with expectations.
With no significant economic data releases from the UK expected throughout the remainder of the week, sterling movement is expected to come from any speculation around the June 23rd referendum and any change to expectations.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
