020 7898 0500Sterling continued its recent strong performance on Tuesday, pushing higher across the board as expectations increased for the UK to remain in the EU following June’s referendum.
With negativity rampant amongst sterling investors recently, sterling had fallen to seven-month lows against the US dollar since the start of the year. However, sterling reached the highest level in two months against the US dollar on Tuesday, while maintaining recent one-month highs against the euro. With bookmakers reducing the likelihood of a ‘Brexit’ to 25%, market flow was dominated by the unwinding of downside expectations from investors.
Poor economic data from the US gave sterling a further boost throughout the afternoon, with this lowering the chances of an interest rate hike in the US.
Today sees the release of preliminary economic growth data from the UK which will provide our first insight into the country’s economic performance throughout the first quarter of 2016.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
