Bank of England minutes key to this week for the Pound
This week in my opinion the Bank of England minutes (released at 09:30am Wednesday) are going to be key to Sterlings performance, the minutes give an overview of the last interest rate decision, along with how members voted.
I’ve just returned to the office following a bout of tonsilitis which certainly knocked me for six to see that the Pound had actually had a reasonable week against most majors last week. The usual suspects gained (NZD and CHF) however aside from those two it was refreshing to see some gains.
The thing to be wary of is the mention of further Quantitative Easing, it seems that every time we hear about even the potential of QE in the U.K the Pound plummets. If you have an upcoming transfer go carry out it may be worth considering the various options available to you before this release including a forward contract, stops and limit orders.
If you would like me to fully explain these and help you maximise your currency transfer then email me directly djw@currencies.co.uk or call 01494 787 462 and ask for Daniel quoting Pound Sterling Forecast.
