020 7898 0500A positive start to the week for sterling saw the currency advance to the highest level for a week against both the euro and US dollar. With no major economic data released from around the globe, sterling found support as investors looked to cash in profits from the recent downturn in the value of sterling. Despite this, sterling remains in a vulnerable position ahead of minutes from the Bank of England’s (BoE) latest monetary policy decision later in the week.
This morning sees the release of inflation data which is forecast to show that price growth has remained steady at 0.3% throughout March. With sterling remains vulnerable to downward movements, a negative reading in this figure could see sterling weaken back down to the two-year low we recently saw against the euro.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
