Sterling is still looking fairly good after the Easter break, with particular pressure growing versus the Euro. With recent good news in the UK jobs market and retail sector, there is a growing sense of optimism surrounding the pound. Tomorrow sees the latest Bank of England Minutes published, and although it seems unlikely any of the members will have voted for a rate hike, it seems more a question of when, not if, one of them will break ranks and decide UK interest rates need to go up. I suspect sterling may still make headway against a few currencies as there will be little data out to dent the pound, with retail figures at the end of the week once again set to show a positive trend.
We have Eurozone PMI data out tomorrow morning and again there is the possibility that weak figures could see the Euro slip further so anyone holding Euro may want to sell sooner rather than later. Australian inflation data is due out in a few hours and the pound has been hovering near 1.80 for a few days now. Weak figures could see sterling break this barrier, but a strong showing may keep sterling trapped under the 1.80 barrier for a while longer.
If you need to make a currency transfer and would like some more ideas about the services we offer please feel free to email Colm at [email protected] and I would be happy to help.