020 7898 0500A positive start to the week for sterling saw the currency gain a small amount of ground against the majority of its trade partners as the March Purchasing Managers’ Index (PMI) for the construction industry remained steady albeit at its lowest level for ten months. Lingering concern over a UK exit from the EU is keeping sterling under pressure, and also holding back construction projects as investors worry on a vote to leave. With Friday’s heavy sell-off pushing sterling to the lowest level in 15-months against the euro, a recovery did seem likely at the start of the week.
Today sees the release of the March PMI for the services industry. A slight improvement from the previous month is expected and as the Services sector makes up over 70% of the UK economy, any shortfall could see sterling weaken.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
