The Bank of England minutes is the key release due out first thing this morning for the UK economy. I feel it is unlikely that we will see any votes in favor for a rate hike or QE on this occasion and it could be a bit of a non event. Sterling in general has been reasonably flat for the past few weeks and personally I just feel it is awaiting something to give it a kick one way or the other. It will be interesting to see where things are by the end of the week but against the Euro with the recent rate cut I would expect to see the pound push towards the late 1.19’s
If you are buying the USD then this evening we have the same release for the UK. Should there be comments regarding tapering I would expect to see some USD strength but as this is unlikely I would expect the rate to hold its ground around the 1.61 point.
If you need to purchase or sell the pound against any of the major currencies please do feel free to get in contact at. [email protected] and I can explain all the options available in achieving a commercial rate of exchange.
Ben Amrany