Sterling’s run of strength continues
Sterling’s run of strength continued as inflation data beat expectations yesterday further pushing the already surging currency supported by very positive numbers regarding the vaccine rollout. Inflation figures being higher than expected also again reduces the likelihood of negative interest rates. Sterling is currently on a run of 6 straight week of gains against both Euro and USD.
Rumours continue to circulate that Prime Minister Boris Johnson will announce his roadmap out of lockdown in his next address to the nation on the 22nd February although warnings coming the health office indicate they will only be comfortable lifting restrictions when the daily infection rate drops below 1000 per day.
The US Dollar continued its recovery against most of its G10 rivals, especially the Euro so far this week as rising treasury yields and fresh signs of US economy strength boosted the currency. Both recent manufacturing and retail sales data beat expectations suggesting the early year stimulus package may be starting to work, with more money also on the way for the American economy, this could mean further Dollar positivity.
12:30 ECB Monetary policy meeting accounts
Why choose RationalFX?
Based in the heart of London’s financial district Canary Wharf, RationalFX has traded over $10billion in currencies across the globe. Take advantage of our competitive exchange rates, market expertise, suite of FX products and online payment platform when you make bank to bank transfers in over 50 currencies worldwide.
Whatever your reason for making overseas payments, we’re confident our currency specialists can save you time and money while providing peace of mind. Call our team now on: +44 20 7220 8181