Pound Sterling Forecast

We saw surprise figures out for the U.K yesterday that many analysts and indeed everyone who writes for me on this site were not expecting. With such a negative release just why has the Pound managed to continue its rally against the majority of majors?

The figures released yesterday do not include all of the data for the first quarter of 2012, and are due to be revised twice in the next two months and by the look of things we could quite easily see these figures revised back up again in these revisions, as the majority off the data already out is construction based and there is still an awful lot of more positive data to be included.

The Federal Reserve last night carried out their monthly interest rate decision and press conference following it and managed to weaken the Dollar once more which has led to over 5 month highs for those looking to buy Dollars or AED as this curreny is indeed pegged to the U.S Dollar.

Personally, I still feel (and I know I seem to always be positive) that the Pound will have a good year this year… We may not see rapid strength but I would not be surprised to see it continue to creep up against the majority of majors, maybe taking a slight knock along the way. By no means do I expect to see us reachj the dizzy heights of a few years ago yet as there is still a huge amount of work to be done.

If you have a pending currency transaction to carry out it may be prudent to get in contact with me directly, I have worked in the industry for years and carried out currency transactions for thousands of clients, saving them money over their bank and/or current broker whilst offering an extremely efficient and proactive service. If you wish to get in touch email me directly leaving a brief message and contact number on djw@currencies.co.uk or if you are a long way off needing help then feel free to join our mailing list by filling in the form on the top right hand corner of this site.