020 7898 0500Sterling has had a mixed week, making gains against its major peers on Thursday which has continued into Friday.
As news that there would be no imminent interest rate rise in the US settled following the Federal Reserve meeting statement on Wednesday evening, sterling made gains against the dollar. Also sterling experienced a significant amount of fluctuation against the euro, but finished up 0.38%, possibly prompted by increased discussion around the EU referendum. This was focused on a Brexit triggering a disintegration of the EU but leaving the UK relatively unscathed.
The big data point for sterling today is the UK Consumer Confidence Index. A high level of consumer confidence stimulates economic expansion, positive for sterling, while a low level drives to economic downturn, negative for sterling. Expectations are for a rise from 1 to 2, which could give the UK currency a much needed boost.
